Regulation Of Derivatives Transactions That Are Privately

I Cannot Conceive Of A Politically Feasible Solution To This Problem Which Will Overdo Cutting The Deficit, Where Overdoing Means Harming The Economy. It Might Be Technically Possible, But It Is Not Realistic.

Excessive Optimism Sows The Seeds Of Its Own Reversal.

Senator, We Are Groping For Understanding, The Knowledge You Assume I Possess Doesn't Exist' - 'the Only Effective Regulation Lies In The Propensity Of Customers To Choose Alternatives, Of Investors To Move Their Funds Elsewhere And Of Labour To Acquire Technical Skills' - 'senator, If I Seem Clear To You, You Must Have Misunderstood Me' - 'unfortunately, Senator, Nobody Knows Where The Next Innovative Idea Is Coming From. Political Decisions Are Never Random And Will Always Lose Out To Innovative Alternatives

The Probability Of Ten Consecutive Heads Is 0.1 Percent; Thus, When You Have Millions Of Coin Tossers, Or Investors, In The End There Will Be Thousands Of Very Successful Practitioners Of Coin Tossing, Or Stock Picking.

All Taxes Are A Drag On Economic Growth. It's Only A Question Of Degree.