Editorial: Complexity intensity
It's OK not to understand structured products, but not if you are a regulator. And that begs the question of what are you supposed to do when the regulator turns up to inspect your books and business practices and doesn't understand what you do. It has happened, and was a particularly popular pastime, certainly in the UK, in the two years that immediately followed the onset of the financial crisis.
Bad enough not to know what you're up to, but even worse to take literally your responsibilities
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