Alan Greenspan was on The Daily Show the other night and I hardly recognize him. Among the things he says:
- Market participants are not rational.
- Models based on rational expectations led us astray.
- Banking regulation can substantially help smooth the business cycle.
- He would DOUBLE required bank capital from 11% to 22%!
- The Investment Banking model as private partnerships was superior to the public company model.
Watch the interview below:
Mr. Roche is the Founder and Chief Investment Officer of Discipline Funds.Discipline Funds is a low fee financial advisory firm with a focus on helping people be more disciplined with their finances.
He is also the author of Pragmatic Capitalism: What Every Investor Needs to Understand About Money and Finance, Understanding the Modern Monetary System and Understanding Modern Portfolio Construction.