I warned many about the coming crisis, long before it happened, on many occasions and in many places, even at the World Bank. The regulators did not want to listen and that´s ok, it usually happens, but what's not ok, is that they still do not seem to want to hear it. “We can easily forgive a child who is afraid of the dark; the real tragedy of life is when men are afraid of the light.” (Plato: 427 BC – 347 BC)
Monday, July 23, 2012
The crisis explained in a tweet
Setting capital requirements for banks regulators cared about perceived risks, and not about how bankers react to these http://bit.ly/PcPq63