[clienthunter]

Regulation enables this kind of thing systemically. Let this happen a few times without regulation and the market will demand trustworthy solutions, not some politician waving a magic wand and declaring something safe. As we've seen recently that system doesn't work too well.

Everyone who lost money in this knew the risks. Nobody is calling for accountability beyond the guy that actually is accountable. How refreshing is that? How refreshing is it to actually have a name of the person who fucked up, instead of a stream of pseudonymous apologetic soundbites from banks/regulators/politicians?

Not to mention the fact this whole problem is completely self contained. There is no talk of rescuing MtGox with tax money, or the need for a "national debate" on how to run this shit in the future. If you didn't run MtGox or have money in MtGox or don't outright choose to be involve yourself in some other way then you can go to bed at night and sleep well knowing it is absolutely not your problem.

This, friends, is one example of the many long forgotten benefits of private trade.

[vidarh]

There's no talk of rescuing MtGox with tax money because the size of MtGox is small enough that the losses are pocket change in the great scale of things. There's no risk of a new global recession over MtGox.

I think you'd find the debate would have been entirely different if the scale of it wasn't such that most people, if asked, would go "MtGox? What's that?"