Dollars and Jens
Friday, November 21, 2008
Treasury Secretary nominee Geithner
“The conventional risk-management framework today focuses too much on the threat to a firm from its own mistakes and too little on the potential for mistakes to be correlated across firms,” Mr. Geithner said. He called the existing regulatory structure “an enormously complex web of rules that create perverse incentives and leave huge opportunities for arbitrage and evasion, and creates the risk of large gaps in our knowledge and authority.”
Geithner as Treasury Secretary has my endorsement.

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