Quote:
Greenspan said that whatever regulatory changes are made to respond to the crisis, "they will pale in comparison to the change already evident in today's markets."
Because of their hard-won experience, markets "will be far more restrained than would any currently contemplated new regulatory regime," he said.
"Investors, chastened, will be exceptionally cautious," he added.
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If Wall Street is at least as idiotic as this industry, and I have the reason to believe it is, then all that's needed is a few months of calm before the scammers come out with a new scheme to part the fools from their money. We've all seen it happen in this industry many times over and the incentives in the financial sector are a great many times bigger.