Quotes About Regulators

Debt, we've learned, is the match that lights the fire of every crisis. Every crisis has its own set of villains - pick your favorite: bankers, regulators, central bankers, politicians, overzealous consumers, credit rating agencies - but all require one similar ingredient to create a true crisis: too much leverage.

As Chester poured more water, she asked, "Does all drinking water come from a bottle?" For some reason this was amusing. "Oh yes," Mattie replied. "No one drinks the water around here. Our fearless regulators promise us it's safe to drink, but no one believes them. We clean ourselves, our clothes, and our dishes with it, and some folks brush their teeth with it, but not me.

Too big to fail' takes responsibility for the supervision of credit risks away from market participants and places it more or less exclusively in the hands of regulators: a duty that in this instance (and many others) they were not capable of discharging.

You can't overestimate what happens when you encourage regulators to believe that the goal of regulation is not to regulate.