The Tub Helps Me Relax,

Regulation - Which Is Based On Force And Fear - Undermines The Moral Base Of Business Dealings. It Becomes Cheaper To Bribe A Building Inspector Than To Meet His Standards Of Construction. Protection Of The Consumer By Regulation Is Thus Illusory.

Institutions Of The Newer Participants In Global Finance Had Not Been Tested, Until Recently...recent Crisis Have Underscored Certain Financial Structure Vulnerabilities That Are Not Readily Assuaged In The Short Run.

History Has Not Dealt Kindly With The Aftermath Of Protracted Periods Of Low Risk Premiums.

We Will Have More Crises And None Of Them Will Look Like This Because No Two Crises Have Anything In Common Except Human Nature.

A Decline In The National Housing Price Level Would Need To Be Substantial To Trigger A Significant Rise In Foreclosures, Because The Vast Majority Of Homeowners Have Built Up Substantial Equity In Their Homes Despite Large Mortgage-market Financed Withdrawals Of Home Equity In Recent Years.