On Truly Effective Regulation

Glad We Saved 'Em - Ricochet.com: "Okay, stipulated: JP Morgan is a publicly-traded company.  If the shareholders want to get rid of the incompetents who manage the bank, they should move to do so.  None of my business.  (Well, actually, it's some of my business: I own some JP Morgan shares....)

But let's all remember this episode the next time the banks come, hat in hand, for taxpayer-subsidized bailouts.

I've said it before in this space, but it bears repeating: the only -- only -- banking regulation that's effective is the sight of bankers selling apples on the street.

Next time, let them sink."

Skin. In. The. Game.