[stretchwithme]

There problem with government regulation is that people get inconsistently burned. And that seems a consistent problem with government regulation.

There were plenty of people pointing out the bad practices of Enron, Madoff, AIG, but nobody was listening.

Politically driven regulation is incented to not rock the boat. They have no brand to protect.

And when the shit hits the fan, they'll just keep pushing the ultimate consequences into the future, because they control the Fed and the Treasury and everything.

There is no accountability. No one ever gets fired.

No one's perfectly rational. But we are not perfectly irrational either.