"The Obama administration believes in experts and blue-ribbon panels. They believe in creating new agencies and boards. They believe in all that, but they just don't trust the entrepreneur's ability to grow her own business and to create jobs."

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I think the credit default swaps can take the place of the rating agencies who really have missed the ball in this procedure and are quite conflicted by the way the ratings are paid for. So, I would like to see credit default swaps become an evermore important way of understanding credit risk in the economy.

— Robert F. Engle