"I remember selling my first short story and thinking, Oh my god, I sold something for fifty dollars! That gives me the authority to say I'm a writer and to actually write more things! It legitimized the activity."

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However, you have to recognize that regulations will never be completely successful and they will always be full of holes. You must constantly be ready to fill new holes. Actually regulation should be kept to a minimum, but there has to be some cooperation between market participants and authorities - as was the case in the early postwar years. The Bank of England was a very successful regulator by cooperating with market participants. This cooperative spirit was broken by the market fundamentalists.

— George Soros