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Professor Xavier Gabaix is interviewed about the regulation of the financial markets

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Excerpt from MarketWatch -- "...Xavier Gabaix, a finance professor at New York University, predicts that all such attempts will be futile. In an interview, he told me that market crashes are caused by the largest players (institutional investors) all wanting to get out of the market at once — and that no regulation can stop them when they want to. That’s because they can inevitably find other markets in which to unload their positions."

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