Naval Ravikant Quotes

Well, I like regulation as little as anybody else. It can be intrusive. It can be detailed. It can be bureaucratic. It can be unevenly administered. It can be unfair. But most regulations that we have for mutual funds and for banks are regulations that we earned. We did something wrong and we're paying a price for it.

For CNBC, and for Wall Street, billion-dollar fines for violations of the law are just part of the price of doing business, along with litigation costs and 'compliance.'

There is no evidence that more regulation makes things better. The most highly regulated industry in America is commercial banking, and that didn't save those institutions from making terrible decisions.

There is a very real danger that financial regulation will become a wolf in sheep's clothing.

Every deal is a regulated deal. Regulators will tell you how to take your money home.

The Commission concludes that the banking supervisors failed to adequately and proactively identify and police the weaknesses of the banks and thrifts or their poor corporate governance and risk management, often maintaining satisfactory ratings on institutions until just before their collapse. This failure was caused by many factors, including beliefs that regulation was unduly burdensome, that financial institutions were capable of self-regulation, and that regulators should not interfere with activities reported as profitable.

If the large banks can do this without breaking the rules, then the rules should be revamped.

I frankly think we in the financial service world believe we need appropriate kinds of regulations. No question about that. But when something like Dodd-Frank has been created, sort of in the mystery of night, it is a huge document. It's vast. It weighs about 10 pounds when I carry it around.

The largest number of jobs likely to be created by the JOBS Act will be for lawyers needed to clean up the mess that it will create.

Money never seems to be interested in strengthening regulatory agencies, for example, but always in subverting them, in making them miss the danger signs in coal mines and in derivatives trading and in deep-sea oil wells.

Banking, I would argue, is the most heavily regulated industry in the world. Regulations don't solve things. Supervision solves things.

It's the FSA and its plethora of EU bodies that's failed.

It’s very hard to write regulations that will prevent people from acting foolishly—particularly when acting foolishly has recently made them a lot of money.

Getting in the middle of financial transactions is a regulatory minefield.

We will follow in letter and spirit whatever the RBI rules and guidelines are - whether at the holding company level or individual company level.

Small lending institutions lack the capability of their larger counterparts to hire the additional manpower necessary to deal with the hundreds of additional regulations created by Dodd-Frank.

Financial regulators should be particularly attentive to the financial consequences of their actions.

There is not necessarily a good reason why a regulator should have to be involved in product design and marketing for rich and sophisticated investors. We recommend that such investors should be able to sign a piece of paper, which allows them to go ahead and buy unregulated products at their own risk.

Legislation must be passed which undoes the damage caused by excessive de-regulation. That means reinstalling the regulatory firewalls that were ripped down in 1999.

Creating a regulatory system that reflects the modern-day realities of financial markets is not as difficult as it may appear.

We can't expect Wall Street to police itself - that's why we have a federal government.

The SEC got more than 100 rules to write under Dodd-Frank, the lion's share of all the agencies. And we've moved, I think, with a tremendous sense of urgency. But it takes a long time to write rules and get them approved by a five-member commission.

This country, of course, needs fundamental reform of our financial regulatory system, as I, and many other financial institution executives, have publicly advocated for a considerable period.

Washington told Wall Street, 'We're going to let y'all regulate yourselves.' The Republicans were in charge. They never said a word.

I would argue that no financial instrument counted as regulatory capital should be allowed to receive any protection from losses.