These are highly improbable events that occur despite all we do to prevent them. This reflects the fact that there are rarely any black swans to be found in nature.
So,
we keep attempting to protect ourselves against future black swan-type
debacles. We’re spending a fortune in corporations to do so.
The
U.S. Congress, with its propensity to spend, is great at outlays. The
Dodd-Frank legislation is a perfect example of over-action and resulting
unintended consequences, which you can be certain, will not prevent the
next black swan incident.
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