Posts Tagged ‘Quote’

John Kay On The Market

Prof. Kay doesn’t pull any punches when discussing the worst flaws of the market, the financial sector or the euro zone.

On the often-expressed industry view that people just need to better understand how the financial sector works:

“I do not know what is under the bonnet of my car and I do not want to know. … Nor do I want to read large volumes of disclosures about what’s under the bonnet of my car every time I sit behind the wheel. What I want is the confidence … that the combination of a modest amount of regulation together with a manufacturer’s concern for his reputation means that … I can expect that most of the time it will do more or less what I want it to do. That’s very far from being the kind of comfort which people can today bring to their purchase of financial services.”