Originally from the pit at Tradesports(TM) (RIP 2008) ... on trading, risk, economics, politics, policy, sports, culture, entertainment, and whatever else might increase awareness, interest and liquidity of prediction markets
Monday, June 20, 2011
There is an inherent conflict
Ask a lefty what caused the financial crisis, and the answer will be that there was too little regulation and too much reliance on market discipline, which did not work.
Ask a righty the same question, and the answer will be that there was too much confidence in regulation, so that market discipline was undermined (creditors assumed they had government protection).