China Could Easily Emerge As The Great

However, You Have To Recognize That Regulations Will Never Be Completely Successful And They Will Always Be Full Of Holes. You Must Constantly Be Ready To Fill New Holes. Actually Regulation Should Be Kept To A Minimum, But There Has To Be Some Cooperation Between Market Participants And Authorities - As Was The Case In The Early Postwar Years. The Bank Of England Was A Very Successful Regulator By Cooperating With Market Participants. This Cooperative Spirit Was Broken By The Market Fundamentalists.

I Think It Is Natural That Every Country Has To Take Care Of Its Interests, But There Are Some Interests That Are Common To All Countries. There Are Some Human Interests, Or We Need Also International Cooperation. We've Sometimes Confused It With Dictation.

As I Discovered, There Is A Great Deal Of Similarity Between A Boom-bust Process In The Financial Markets And The Rise And Fall Of The Soviet System.

When You Sell Options, You Get Paid For Assuming Risk. That Can Be A Profitable Business, But It Does Not Mix Well With The Risks Inherent In A Leveraged Portfolio.

Studying Economics Is Not A Good Preparation For Dealing With It.