Courtesy of Jaime Falcon.
Charles Ferguson addresses needed reforms in the financial sector. I would suggest he use the term “skin in the game.” Americans bristle when anyone says “regulation” because regulation is so awful in this country (it’s written by lobbyists to benefit their special interests). But everyone understands that “skin in the game” is necessary for every party in a capitalist economy. And the financial sector has gamed the system to such an extent that they have exempted themselves from normal risk/reward analysis. They gain, everyone else takes on their risk. They get the upside, everyone else gets their downside.
