Belmont Club

By Richard Fernandez

Bio

Get Updates From Richard Fernandez
A Comment About

Systemic risk

February 3, 2009 - 9:49 pm - by Richard Fernandez
In the Industry
2009-02-04 10:23:24

Steveaz,

No, critics should not get out of the way. Critics should be highly engaged in the process and help to shape it and make it better, but not shut it down.

Everything that we delegate still remains our responsibility, whether it is Predator strikes on al Qaeda in Pakistan or regulation of derivatives.

But the fact that we cannot perfectly regulate derivatives or ensure that everyone at the business end of a missile is not a civilian does not mean that we throw up our hands and stop. It means we factor in the limitations, understand them, and be judicious.