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Mr. Lilico,
I enjoyed your presentation but feel like you skipped over some central issues that led to the crisis, namely Gresham's Dynamics, the warped incentive systems in the financial world (the bonus system, the lack of personal repercussions for failure, and the lack of liability of principals), that lobbyists and special interest groups dictate what legislation is enacted (regulatory capture), and that fraud was widespread and ignored. How do those issues fit into your analysis?
emaij 5 months ago
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naeemafzal1 5 months ago