"It is now highly feasible to take care of everybody on Earth at a higher standard of living than any have ever known. It no longer has to be you or me. Selfishness is unnecessary. War is obsolete. It is a matter of converting our high technology from WEAPONRY to LIVINGRY."
- Buckminster Fuller (h/t Suzy Waldman)

Thursday, September 18, 2008

Grace under fire

The following is the beginning of a statement released by SEC Chairman Christopher Cox in response to Sen. John McCain saying earlier today on the campaign trail that if he were president he'd fire Cox over the crisis on Wall Street:

"While I have great respect for Senator McCain, we have sometimes disagreed, and this is one such occasion. ..."

1 comment:

Aaron said...

Trying to run a “free market economy” with less regulation and fewer regulators is like trying to run a basketball tournament with fewer rules and fewer referees.

Free market economies require good rule of law to resolve contracts and torts, fair rules for the markets and enough cops and regulators to keep everyone within the law and market rules.

Wall street is like a college basket ball team, it needs rules and referees.