[rmrm]

2. Change that to "limit leverage, everywhere".

30-1 and up leverage never has been and never will be safe, necessary, or a good idea. Not for Fannie and Freddie, not for investment banks, not for Citi and Wamu, not for LTCM, not for the Euro banks, not for individual mortgage borrowers.

Never, for anyone, ever, a good idea. Far, far, far more destabilizing than something like HFT.

1 rule and you can pretty much put a cap on how badly things can get blown up. Limit everyone everywhere to 10-1 leverage.

We can live with a slightly lower, more consistent growth rate.