--- title: "Meaning & Key Takeaway of: A lot of ambitious code has been written…" description: "\"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 finan..." image: "https://sms4smile.com/quotes/i/5c5/robert-f-engle-23929_ambitious_a-lot-of-ambitious-code-has-been-written_1094793.jpg" --- # A lot of ambitious code has been written into the law for… ![“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.” quote by Robert F. Engle](https://sms4smile.com/quotes/i/5c5/robert-f-engle-23929_ambitious_a-lot-of-ambitious-code-has-been-written_1094793.jpg) [Download](https://sms4smile.com/quotes/i/5c5/robert-f-engle-23929_ambitious_a-lot-of-ambitious-code-has-been-written_1094793.jpg) [Open image](https://sms4smile.com/quotes/i/5c5/robert-f-engle-23929_ambitious_a-lot-of-ambitious-code-has-been-written_1094793.jpg) > “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.” [Robert F. Engle](https://sms4smile.com/quotes/author/robert-f-engle/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. 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. ★ ★ ★ ★ ★ No ratings yet [Ambitious](https://sms4smile.com/quotes/about/ambitious/) [Code](https://sms4smile.com/quotes/about/code/) [Customer](https://sms4smile.com/quotes/about/customer/) [Financial institutions](https://sms4smile.com/quotes/about/financial-institutions/) [Institutions](https://sms4smile.com/quotes/about/institutions/) [Law](https://sms4smile.com/quotes/about/law/) [Programming](https://sms4smile.com/quotes/about/programming/) ## Related quotes > [It is impossible to understand the financial health of big financial institutions and their potential impact on the market. They don't even understand it…](https://sms4smile.com/quotes/paul-singer/it-is-impossible-to-understand-the-financial-health-of-big-financial/) [Paul Singer](https://sms4smile.com/quotes/author/paul-singer/) > [It isn't given to man to be able to run a financial institution where different interest-rate scenarios will prevail on all of that so…](https://sms4smile.com/quotes/warren-buffett/it-isn-t-given-to-man-to-be-able-to-run-a-financial-institution-where/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [Top management as a function and as a structure was first developed by Georg von Siemens (1839-1901) in Germany between 1870 and 1880, when…](https://sms4smile.com/quotes/peter-drucker/top-management-as-a-function-and-as-a-structure-was-first-developed/) [Peter Drucker](https://sms4smile.com/quotes/author/peter-drucker/) > [Look at any financial institution, at any bank. They're all photocopies of each other. There's no diversity of institutions and even less diversity of…](https://sms4smile.com/quotes/bernard-lietaer/look-at-any-financial-institution-at-any-bank-they-re-all-photocopies/) [Bernard Lietaer](https://sms4smile.com/quotes/author/bernard-lietaer/) > [The beauty of a financial institution is that there are a lot of ways to go to hell in a bucket. You can push…](https://sms4smile.com/quotes/charlie-munger/the-beauty-of-a-financial-institution-is-that-there-are-a-lot-of-ways/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) > [Perhaps more to the point for TBTF (Too Big To Fail bank), if a SIFI (Systemically Important Financial Institution) does fail I have little…](https://sms4smile.com/quotes/jeremy-c-stein/perhaps-more-to-the-point-for-tbtf-too-big-to-fail-bank-if-a-sifi/) Jeremy C. 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Our pension costs and health care costs for our employees are going to bankrupt this city.](https://sms4smile.com/quotes/michael-bloomberg/we-cannot-continue-our-pension-costs-and-health-care-costs-for-our/) [Michael Bloomberg](https://sms4smile.com/quotes/author/michael-bloomberg/) > [It was families who were worried about going bankrupt if they got sick.](https://sms4smile.com/quotes/barack-obama/it-was-families-who-were-worried-about-going-bankrupt-if-they-got-sick/) [Barack Obama](https://sms4smile.com/quotes/author/barack-obama/) > [Buying a home is exciting, but it's also a big financial commitment.](https://sms4smile.com/quotes/drew-scott/buying-a-home-is-exciting-but-it-s-also-a-big-financial-commitment/) [Drew Scott](https://sms4smile.com/quotes/author/drew-scott/) > [Citigroup has the opportunity to be the largest financial institution and to serve us well. What we decide to do is not what everybody…](https://sms4smile.com/quotes/lisa-caputo/citigroup-has-the-opportunity-to-be-the-largest-financial-institution/) [Lisa Caputo](https://sms4smile.com/quotes/author/lisa-caputo/) > [Our overriding goal in restructuring our financial architecture should be that taxpayers never again have to save a failing financial institution.](https://sms4smile.com/quotes/henry-paulson/our-overriding-goal-in-restructuring-our-financial-architecture/) [Henry Paulson](https://sms4smile.com/quotes/author/henry-paulson/) > [If a financial institution has business operations in the United States, hires people in the United States, if they are clogged with illiquid assets,…](https://sms4smile.com/quotes/henry-paulson/if-a-financial-institution-has-business-operations-in-the-united/) [Henry Paulson](https://sms4smile.com/quotes/author/henry-paulson/) ## More by Robert F. Engle > [We're talking about should we increase taxes? Why not put a tax on carbon emissions. It would raise a lot of money, it would…](https://sms4smile.com/quotes/robert-f-engle/we-re-talking-about-should-we-increase-taxes-why-not-put-a-tax-on/) [Robert F. Engle](https://sms4smile.com/quotes/author/robert-f-engle/) > [So what is the role that credit default swaps can play in an economy? Well my feeling is that if these things actually will…](https://sms4smile.com/quotes/robert-f-engle/so-what-is-the-role-that-credit-default-swaps-can-play-in-an-economy/) [Robert F. Engle](https://sms4smile.com/quotes/author/robert-f-engle/) > [Well if you've got information about a company, or you believe that a company is undervalued, you can go out and buy their stock…](https://sms4smile.com/quotes/robert-f-engle/well-if-you-ve-got-information-about-a-company-or-you-believe-that-a/) [Robert F. Engle](https://sms4smile.com/quotes/author/robert-f-engle/) > [I mean, we've always had gold bugs, but now we sort of realize that Treasure Bills might be in the same category. And we…](https://sms4smile.com/quotes/robert-f-engle/i-mean-we-ve-always-had-gold-bugs-but-now-we-sort-of-realize-that/) [Robert F. Engle](https://sms4smile.com/quotes/author/robert-f-engle/) > [I think what we need is better understanding of how to do risk analysis of a CDO, but that they still can perform a…](https://sms4smile.com/quotes/robert-f-engle/i-think-what-we-need-is-better-understanding-of-how-to-do-risk/) [Robert F. Engle](https://sms4smile.com/quotes/author/robert-f-engle/) > [Credit default swap gives you something to do. You can buy some credit default swaps from them to protect yourself against the bankruptcy of…](https://sms4smile.com/quotes/robert-f-engle/credit-default-swap-gives-you-something-to-do-you-can-buy-some-credit/) [Robert F. Engle](https://sms4smile.com/quotes/author/robert-f-engle/) > [When large companies take on risk, then they impose risks on the rest of the system. And these are systemic risks and these systemic…](https://sms4smile.com/quotes/robert-f-engle/when-large-companies-take-on-risk-then-they-impose-risks-on-the-rest/) [Robert F. Engle](https://sms4smile.com/quotes/author/robert-f-engle/) > [If a lot of people feel like this company is undervalued and go out and buy the stock, the stock price will go up…](https://sms4smile.com/quotes/robert-f-engle/if-a-lot-of-people-feel-like-this-company-is-undervalued-and-go-out/) [Robert F. Engle](https://sms4smile.com/quotes/author/robert-f-engle/) > [Risk managers and investment bankers and actually, all kinds of investors took on more risk than they expected. So there was a failure of…](https://sms4smile.com/quotes/robert-f-engle/risk-managers-and-investment-bankers-and-actually-all-kinds-of/) [Robert F. Engle](https://sms4smile.com/quotes/author/robert-f-engle/) > [I don't think the idea of requiring these to be only sold to people who have already own the bonds, in other words, this…](https://sms4smile.com/quotes/robert-f-engle/i-don-t-think-the-idea-of-requiring-these-to-be-only-sold-to-people/) [Robert F. Engle](https://sms4smile.com/quotes/author/robert-f-engle/) > [That is, many times we're not risking our own money, we're risking somebody else's money, or maybe that someone is going to back stop…](https://sms4smile.com/quotes/robert-f-engle/that-is-many-times-we-re-not-risking-our-own-money-we-re-risking/) [Robert F. Engle](https://sms4smile.com/quotes/author/robert-f-engle/) > [If you have information that a company is not as good as its stock market valuation, you don't have a way to sell that…](https://sms4smile.com/quotes/robert-f-engle/if-you-have-information-that-a-company-is-not-as-good-as-its-stock/) [Robert F. Engle](https://sms4smile.com/quotes/author/robert-f-engle/) > [I don't see what the alternative to risk management is. If it's just getting rid of the models and instead using the smart people…](https://sms4smile.com/quotes/robert-f-engle/i-don-t-see-what-the-alternative-to-risk-management-is-if-it-s-just/) [Robert F. Engle](https://sms4smile.com/quotes/author/robert-f-engle/) > [I agree with a lot of the points in Taleb's book, but I don't agree with many of his conclusions. It seems to me…](https://sms4smile.com/quotes/robert-f-engle/i-agree-with-a-lot-of-the-points-in-taleb-s-book-but-i-don-t-agree/) [Robert F. Engle](https://sms4smile.com/quotes/author/robert-f-engle/) > [The collateralized debt obligation, the CDO, is a structure which allows you to more or less continuously choose how much risk you want to…](https://sms4smile.com/quotes/robert-f-engle/the-collateralized-debt-obligation-the-cdo-is-a-structure-which/) [Robert F. Engle](https://sms4smile.com/quotes/author/robert-f-engle/) [Explore all 25 Robert F. Engle quotes ](https://sms4smile.com/quotes/author/robert-f-engle/) ## More Ambitious quotes > [I'm hungry and ambitious.](https://sms4smile.com/quotes/julen-lopetegui/i-m-hungry-and-ambitious/) [Julen Lopetegui](https://sms4smile.com/quotes/author/julen-lopetegui/) > [I want my squad to be confident, ambitious. They have to believe in big things and we have to set targets internally.](https://sms4smile.com/quotes/eddie-howe/i-want-my-squad-to-be-confident-ambitious-they-have-to-believe-in-big/) [Eddie Howe](https://sms4smile.com/quotes/author/eddie-howe/) > [I almost never have a plan for myself... I'm not ambitious in that way.](https://sms4smile.com/quotes/martha-plimpton/i-almost-never-have-a-plan-for-myself-i-m-not-ambitious-in-that-way/) [Martha Plimpton](https://sms4smile.com/quotes/author/martha-plimpton/) > [“Getting rich is easy, staying rich is impressive.”](https://sms4smile.com/quotes/don-trip/getting-rich-is-easy-staying-rich-is-impressive/) [Don Trip](https://sms4smile.com/quotes/author/don-trip/) > [Trying to be perfect may be inevitable for people who are smart and ambitious and interested in the world and its good opinion...What is…](https://sms4smile.com/quotes/anna-quindlen/trying-to-be-perfect-may-be-inevitable-for-people-who-are-smart-and/) [Anna Quindlen](https://sms4smile.com/quotes/author/anna-quindlen/) > [Business is always a struggle. There are always obstacles and competitors. There is never an open road, except the wide road that leads to…](https://sms4smile.com/quotes/chris-kirubi/business-is-always-a-struggle-there-are-always-obstacles-and/) Chris Kirubi > [I am ambitious to do more than what has been offered me. I want to be the best in whatever career I choose and…](https://sms4smile.com/quotes/uday-chopra/i-am-ambitious-to-do-more-than-what-has-been-offered-me-i-want-to-be/) [Uday Chopra](https://sms4smile.com/quotes/author/uday-chopra/) > [There are four varieties in society — the lovers, the ambitious, observers, and fools. The fools are the happiest.](https://sms4smile.com/quotes/hippolyte-taine/there-are-four-varieties-in-society-the-lovers-the-ambitious/) [Hippolyte Taine](https://sms4smile.com/quotes/author/hippolyte-taine/) > [People who are ambitious - politicians who crave power - think that they're in control of it, but at some point, the movement that…](https://sms4smile.com/quotes/ken-liu/people-who-are-ambitious-politicians-who-crave-power-think-that-they/) [Ken Liu](https://sms4smile.com/quotes/author/ken-liu/) > [I'm not ambitious. Not a bit.](https://sms4smile.com/quotes/indira-gandhi/i-m-not-ambitious-not-a-bit/) [Indira Gandhi](https://sms4smile.com/quotes/author/indira-gandhi/) > [Aggressive and hard-charging women violate unwritten rules about acceptable social conduct. Men are continually applauded for being ambitious and powerful and successful, but women…](https://sms4smile.com/quotes/sheryl-sandberg/aggressive-and-hard-charging-women-violate-unwritten-rules-about/) [Sheryl Sandberg](https://sms4smile.com/quotes/author/sheryl-sandberg/) > [I understood early on that I was not the best-looking girl in the room. But I knew my advantage was a hard work ethic…](https://sms4smile.com/quotes/erin-o-connor/i-understood-early-on-that-i-was-not-the-best-looking-girl-in-the/) [Erin O'Connor](https://sms4smile.com/quotes/author/erin-o-connor/) > [It is ordained that to the ambitious, who derive no satisfaction from the gifts of life and the beauty of the world, life shall…](https://sms4smile.com/quotes/leonardo-da-vinci/it-is-ordained-that-to-the-ambitious-who-derive-no-satisfaction-from/) [Leonardo da Vinci](https://sms4smile.com/quotes/author/leonardo-da-vinci/) > [If Reagan and John Paul II were linked by anything, it was a grand, ambitious, and generous idea of Western political civilization, one in…](https://sms4smile.com/quotes/anne-applebaum/if-reagan-and-john-paul-ii-were-linked-by-anything-it-was-a-grand/) [Anne Applebaum](https://sms4smile.com/quotes/author/anne-applebaum/) > [To talk only about national security, national defense, means to be selfish, ambitious. It is discrimination, isolation. "It is just me. What do I…](https://sms4smile.com/quotes/evo-morales/to-talk-only-about-national-security-national-defense-means-to-be/) [Evo Morales](https://sms4smile.com/quotes/author/evo-morales/) [Browse all 1,269 Ambitious quotes ](https://sms4smile.com/quotes/about/ambitious/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "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.", "creator": { "@type": "Person", "name": "Robert F. 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