Ted Kaufman: “This is not a battle, in Afghanistan, between us and the Taliban. This is a battle between the government and the…”

Widespread cheating and fraud of the sort that drove the speculative housing and derivatives securities bubbles are anathema to public confidence in the markets.

I think disclosure is really the root of a lot of these problems.

We have got to get away from this too-big-to-fail. It is bad in so many different ways in terms of the concept.

A paper tiger that will fall apart the minute it is tested in a real life financial crisis