I meant only with respect to VCs, as to which I believe there is no credible argument to be made about their failure potentially triggering any form of systematic financial crisis.
The rest of the whole sorry mess has been a disaster, one initially triggered by the bogus subprime paper generated through the Fannie/Freddie programs, and it is in that direction that regulators should focus their efforts, not on an an industry that had nothing whatever to do with this fiasco (a point also made in passing by the author of this article).
The rest of the whole sorry mess has been a disaster, one initially triggered by the bogus subprime paper generated through the Fannie/Freddie programs, and it is in that direction that regulators should focus their efforts, not on an an industry that had nothing whatever to do with this fiasco (a point also made in passing by the author of this article).