On Emerging (Financial) Viruses

This quote is about biological viruses, but it has metaphorical power in thinking about regulating new and exotic financial instruments:

Investigators face a daunting black box with emerging viruses: the challenge of developing a universal therapeutic agent to combat a genetically proficient virus that quite likely has many more options for emergence than we have yet considered.

–Graham, R., & Baric, R. (2009). Recombination, Reservoirs, and the Modular Spike: Mechanisms of Coronavirus Cross-Species Transmission. Journal of Virology, 84 (7), 3134-3146 DOI: 10.1128/JVI.01394-09

/via MSFOP

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