Downside Only

Photo by Aaron Burden on Unsplash

American Regulators Have a Hard Job

I’ve made some comments critical of regulators recently, as I think it’s important to be intellectually honest. Despite this, I have some people I am privileged and honored to call friends at places like the Federal Reserve, CFTC, and NYDFS. They aren’t perfect (who is — certainly not me!), but I think they genuinely care about trying to get things right. They don’t always…