Sunday, September 04, 2011

Quote of the day – regulators and risk

"Isn't there something you can do to order us not to take all of these risks?"
- Chuck Prince, CEO of Citigroup, at a dinner of financial executives with Hank Paulson, Treasury Secretary, June 2007, quoted in "All the Devils Are Here", p. 344, Bethany McLean and Joe Nocera

If CEOs are asking for government intervention when corporations are getting over their head, why are so many Republicans complaining about excessive government regulation?