Taleb goes to Congressional committee hearing

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Nicholas Nassim Taleb discussing the Financial Crisis causes and solutions with the US Congress. His advice is quite simple:

1. De-leverage the system
2. Stop transferring debt from private sector to public sector through bailouts
3. Do not do deficit spending i.e. Stop printing money
4. Reduce the size of banks, have many banks and remove the Too Big To Fail syndrome
5. Do not pass laws thinking you understand or stop Risks to the system, because we don’t understand Risk as we live in a Complex world. Putting rules to stop bad behavior in this complex world is naive thinking.

I agree with Mr.Taleb…

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