Thank you. Finally a succinct, true statement regarding financial regulation. I work in finanance and a huge chunk of my work is generating reports for regulat

Thank you. Finally a succinct, true statement regarding financial regulation. I work in finanance and a huge chunk of my work is generating reports for regulators. Specifically in derivatives (swaps and such), which was fairly wild west before the financial crisis. There's a lot of catching up and a lot of interest into the trades by regulators, which were basically off-exchange and which are a big part of structured products. Those are financial products, which Warren Buffet deigned "Financial Products of Mass Destruction" And you know what? I agree with those regulations despite the fact that it can be a real pain. And if anybody really believes such regulation is crap and just there to support entrenched market players. Well; essentially banks self regulated before the financial crisis. And what could ever go wrong with that?