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”
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.
Address and close gaps promptly.
Themes
Mood
Type
When to use this quote
- policy drafting
- financial oversight
- investment decisions
- risk management
- public education
Key Concepts
Questions to Reflect On
- What gaps exist today?
- How can regulators stay ahead of innovation?
Political opposition may stall reforms.