Bruce Richards on Bloomberg

Bruce Richards, Marathon Asset Management CEO reminds us even smart people say dumb things and economics pundits will accept it for ordinary speech without interruption. Speaking to two Bloomberg correspondents, Richards said,

"It's built in, it's structural. The banks must react, see, Dodd-Frank and all that, there's reaction. You know. Like Einstein's theory of Relativity: for every action there's reaction."

It's not rocket surgery.