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Continuing Quote by Brooksley Born

“I think we will have continuing danger from these markets and that we will have repeats of the financial crisis - [they] may differ in details but there will be significant financial downturns and disasters attributed to this regulatory gap, over and over, until we learn from experience” quote by Brooksley Born
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“I think we will have continuing danger from these markets and that we will have repeats of the financial crisis - [they] may differ in details but there will be significant financial downturns and disasters attributed to this regulatory gap, over and over, until we learn from experience”

Brooksley Born

About This Quote

Source Speech: Testimony before US Senate Committee on Banking, 2008

Financial markets will repeatedly suffer crises due to regulatory gaps until lessons are learned.

In simple terms: Regulatory gaps cause repeated crises.

Key Takeaway

Address and close gaps promptly.

Themes

finance regulation crisis policy risk

Mood

concerned urgent

Type

warning analytical

When to use this quote

  • policy drafting
  • financial oversight
  • investment decisions
  • risk management
  • public education

Key Concepts

systemic risk regulatory failure market dynamics

Questions to Reflect On

  • What gaps exist today?
  • How can regulators stay ahead of innovation?
A Different Perspective

Political opposition may stall reforms.

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