Why Regulation Matters

Even a genius like Sir Isaac Newton can lose his pantaloons:

Of all people, Newton should have known better. He had, after all, invented the mathematics that could expose the impossibility of the South Sea Company's promise of returns to be paid to an everlasting stream of new investors. And yet, even he could not resist the prospect of infinite returns on his money...he admitted that while he knew how to predict the motions of the cosmos, "he could not calculate the madness of the people."