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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: Joe Stocks who wrote (69455)9/7/2006 3:33:07 PM
From: bart13  Read Replies (1) of 110194
 

Greenspan: “Owing to persistent advances in information and computing technologies, the structure of our financial institutions is continuously changing, I trust for the better. But that evolution in financial structure has also meant that supervision and regulation must be continually changing in order to respond adequately to these developments. In today's markets, for example, there is an increased reliance on private counterparty surveillance as the primary means of financial control. Governments supplement private surveillance when they judge that market imperfections could lead to sub-optimal economic performance.”


Emphasis mine, and ipso facto per the chart below:

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