Henry Kaufman Famous Quotes
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In the United States, meaningful financial reform has tended to be crisis-driven. That is an unfortunate fact, for several reasons. It means that our regulatory system has been defined and redefined under extreme rather than normal conditions. It means that financial regulation is more reactive than proactive. And it means that we must endure serious dysfunction, if not a major calamity, before fixing problems - financial excesses that typically have been recognized and acknowledged long before the crisis hits.
No matter how important we all think we are as individuals, when it comes down to it, we're not that important. At times we better recognize that. That life goes on, thank goodness. That we better recognize our role in society.
I don't feel that I view things with a pessimistic eye. I should try to say which way events will go rather than which way events should go. We have to be realistic.
