Thursday, December 31, 2009

Derman on Regulators

Emmanuel Derman dreams about the TSA and the FED trading places.

If a bank failed at 9 a.m. one morning and shut its doors, the TSA would announce that all banks henceforth begin their business day at 10 a.m.

And, if a terrorist managed to get on board a plane between Stockholm and Washington, the Fed would increase the number of flights between the cities.

That does sum it up pretty well.

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