... regulation—too often rewarded the quick deal, the short-termgain—without proper consideration of long-term consequences. Often, those systemsencouraged the big bet—where the payoff on the upside ... conclusions at the end of chapters in Parts III, IV, and V of this report. The subject of this report is of no small consequence to this nation. The profoundevents of and were neither ... essentialto the economic well-being of our nation. The soundness and the sustained prosper-ity of the nancial system and our economy rely on the notions of fair dealing, re-sponsibility, and...