Ambitious Quote by Robert F. Engle
“A lot of ambitious code has been written into the law for those and we will have to see if it actually works, if we have another example of a big financial institution going bankrupt.”
About This Quote
Source Speech: Financial regulation conference, 2015
Ambitious legal provisions may not work; real-world testing is needed, especially for large banks.
In simple terms: Laws may fail without practical testing.
Key Takeaway
Test financial regulations before full implementation.
Themes
law
finance
risk
regulation
banking
testing
Mood
cautious
analytical
Type
policy
regulatory
When to use this quote
- bank oversight
- legislative drafting
- risk assessment
- crisis simulation
Key Concepts
systemic risk
regulatory design
financial stability
policy effectiveness
Questions to Reflect On
- What mechanisms ensure laws remain effective over time?
- How can regulators anticipate unintended consequences?
A Different Perspective
Legal complexity can hinder enforcement and adaptability.
![“The beauty of a financial institution is that there are a lot of ways to go to hell in a bucket. You can push credit too far, do a dumb acquisition, leverage yourself excessively - it's not just derivatives [that can bring about your downfall].” quote by Charlie Munger](https://sms4smile.com/quotes/img-quotes/628/charlie-munger-458_acquisition_the-beauty-of-a-financial-institution-is_1034580.jpg)
