Friday, Sep 19, 2008
The Three Lessons of Rocket Science To Learn
FSA: Speech by Callum McCarthy
"Let me turn to what the industry should do. For financial institutions I would draw three particular lessons. The first is the need for greater realism – some would say modesty – about their risk management capability." ........ "The second is the need for greater openness about the position of each bank." ....... "The third lesson is not for those financial institutions who originate or distribute financial products, but for those who invest in them. ....... understand what you are buying."
Posted by renting2 @ 09:39 AM (299 views) Add Comment
3 Comments
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1. paul said...
"And the fourth is not to allow the regulator to nap on the job for ten years. Oops. that's me."
2. last_days_of_disco said...
Oh man, this is just so incredibly pathetic. Can someone please knock these guys on the head.
"Understand what you are buying", ye think?
Really, no I just buy things at random, no thought to what they are.
3. doomwatch said...
Was there Laurel & Hardy music playing in the background