Co-founder of FixCongressNow.org on Make Markets be Markets Conference
From HuffPo article entitled Systemic Denial by Larry Lessig:
I was keen to hear just what the strategy was to restore us to some sort of financial sanity. How could we avoid it again? Yet through the course of the morning, I was struck by two very different and very depressing points.
The first is that things are actually much worse than anyone ever talks about….
But the second point was even worse. Expert after expert spoke as if the problems we faced were simple math errors…
This is a profound denial. The gambling on Wall Street was not caused by the equivalent of errors in arithmetic. It was caused by a corruption of the system by which we regulate those markets. No true theorist of free markets — and certainly none of the heroes of even the libertarian right — believe that infrastructure markets like financial systems can be left free of any regulation, including the regulation of rules against fraud.
