Some of you have asked whether Bill and I hate each other after that.
We always argue. But we're always friends.
And let me tell you something about Bill: His heart is even bigger than his mouth, if you can believe that!
I remember when I was out all those weeks after my surgery, Bill would check in on me. I guess he liked the fact I could only listen, and not say a word.
But I appreciated his concern. I later told him he missed arguing with me.
We clearly made up for lost time this week on an issue we fundamentally disagree.
Bill thinks our elected officials have a responsibility to give us a heads-up to these crises.
I think we should all hold hands and eat s'mores by a campfire.
But neither is happening anytime soon.
Here's why: If these guys can't police their books, who really thinks they'll be able to police companies' books?
And if the guys running these companies are crooks, I imagine while they're being crooks, they're pretty smart crooks, a lot smarter than the Keystone Cops in Washington who'd be policing them to see if they were crooks.
My point is life would be wonderful if federal authorities of any sort had the wisdom and foresight to pierce bubbles before they pierce us.
But sadly, they don't.
And institutionalizing them with broad powers won't.
Some warned of market excesses when real estate was riding high.
Most did not.
All got caught.
Some were connecting the dots then.
Everyone's connecting the dots now.
If only we could go back and heed the warnings.
Some of the very companies Bill blasts had trouble heeding those warnings.
Do you really have any faith our leaders could? Or would?
Two words: I don't.
But again, to my friend Bill, that's just me.
The financial factor.
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