Once A Trend Is Established

The People Currently In Charge Have Forgotten The First Principle Of An Open Society, Namely That We May Be Wrong And That There Has To Be Free Discussion. That It's Possible To Be Opposed To The Policies Without Being Unpatriotic.

Start By Assuming The Market Is Always Wrong, So If You Copy Everybody Else On Wall Street, You're Doomed To Do Poorly.

There Is No Point In Being Confident And Having A Small Position.

You Could Adjust The Punishment To Fit The Infraction. Even A Small Fine Would Be Enough To Bring An Errant Government To Heel.

In The Case Of A Meltdown, The Regulatory Authorities May Find Themselves Obliged To Step In To Preserve The Integrity Of The System. It Is In That Light That The Authorities Have Both A Right And An Obligation To Supervise And Regulate Derivative Instruments.