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Actually, I think a slightly different process will appear each time. Different enough that people will not recognize it for what it is except in hindsight. S
by bwd 18y ago
Actually, I think a slightly different process will appear each time. Different enough that people will not recognize it for what it is except in hindsight. Since regulation is most effective as a reaction to a problem, perhaps we should accept that there is very little we can do to stop these sorts of things and concentrate on preparing ourselves to weather the storms when they appear.
- fallentimes 18y agoThe best indicator? "This time it's different." -1980's Leverage Buyout Craze (RJR Nabisco) coupled with junk bonds -Dotcom Bust -Day trading -Too much leverage (Long Term Capital Management and repeated today) -Mortgage back securities -People making 50k per year buying 500k homes