In his memoir [published in 1993], Seidman offered a set of lessons learned. They included, “Instruct regulators to look for the newest fad in the industry and examine it with great care. The next mistake will be a new way to make a loan that will not be repaid.”Those two sentences should be emblazoned above every desk of every financial regulator.
My condolences to Mr. Seidman's family and friends.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.