"The failure in 2008 was not a moral failure of the instrument per se, it was a moral failure of the people using it - the assignment of AAA ratings when it was obvious that greed alone was used to justify those ratings. Not to ignite another debate, but guns don't kill people, people kill people."
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"Regulatory burden should be commensurate with risk, however lest we forget, this is not about a dozen banks in the $100-$250 billion range, but about the more than 30 who were affected when the bar was raised from $50 billion to $250 billion. Is it a question of regulatory burden alone or an admission that existing bank systems are "antiquated" and "incapable" of a higher level of compliance with any degree of certainty? Oh, and they also make huge political contributions through their PACs."
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