09-25-2009, 02:07 PM
Hoofhurr Wrote:It's unclear to me why it takes years of testing for a new drug to go to market but complex financial instruments get integrated as soon as someone is willing to buy into it.
That's what a market is. A place where people are willing to buy things for a certain price. Regulations should protect us from fraud -- I bought something labeled as a pet rock but it was actually a pet snake and it bit me. Market participants need to protect themselves from stupidity -- I bought a pet rock and now I feel stupid because one year later, no one will buy this from me.
"Hamilton is really a Colossus to the anti republican party. Without numbers he is an host within himself. They have got themselves into a defile where they might be finished but too much security on the republican part will give time to his talents and indefatigableness to extricate them. We have had only middling performances to oppose to him. In truth when he comes forward there is nobody but yourself who can meet him. His adversaries having begun the attack he has the advantage of answering them and remains unanswered himself. For God's sake take up your pen and give a fundamental reply to Curtius and Camillas" - Thomas Jefferson to James Madison