Ladies and gentlemen, the real issue behind the bailout is not the money, as fraudulent as it is, since the reality is that the Fed will be printing a lot of bills to pay for this one. No, the real issue is regulatory oversight of the entire financial system. This is where a lot of people miss the boat. They seem to believe that if Congress and the regulatory agencies are constantly monitoring the system, then no longer will financial firms take unnecessary risks. However, let us understand that oversight is not about the soundness of a system. Instead, oversight … Continue reading It’s the Oversight, Stupid