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European Tribune - Anglo Disease - My job is done
The dirty secret is that regulation makes finance boring and less profitable.

is that really true though? when you take into account the inevitable crashes, dosn't that wipe out the increased profitability? surely it just makes the banks more open to plunder by owners and employers during the good times, a sort of Robert Maxwell school of finance. the more I look, the more modern finance system seems like an elaborate game of three card monte, and we've reached the point where the cards are turned over and we're going to find ourselves the loser because the lady is definitely in the dealers pocket.

Any idiot can face a crisis - it's day to day living that wears you out.

by ceebs (ceebs (at) eurotrib (dot) com) on Wed Apr 30th, 2008 at 10:56:53 AM EST

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