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William Seidman

By Anonymous

From Bloomberg: William Seidman, Who Led Cleanup of S&L Crisis, Dies

In his memoir [published in 1993], Seidman offered a set of lessons learned. They included, ?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.?

Those two sentences should be emblazoned above every desk of every financial regulator.

My condolences to Mr. Seidman's family and friends.

Full post as published by Calculated Risk on May 13, 2009 (boomark / email).