Bill Seidman's Brilliant Advice To Regulators


In his 1993 memoir, the late Bill Seidman offered some great words of wisdom to regulators:

“Instruct regulators to look for the newest fad in the industry and examine it with great care. The next mistake will be a new way to make a loan that will not be repaid.”

That pretty much says it all, no?

(via Calculated Risk)

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.