WANKING VERSUS BANKING: Self-regulation and Financial Suicide

“I do not think you can trust bankers to control themselves. They are like heroin addicts”. Charlie Munger

“Deregulation is a transfer of power from the trodden to the treading”. George Monbiot

“It’s all very well to run around saying regulation is bad, get the government off our backs, etc. Of course, our lives are regulated. When you come to a stop sign, you stop; if you want to go fishing, you get a license; if you want to shoot ducks, you can shoot only three ducks. The alternative is dead bodies…