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 The regulators replied, “well, if you can’t explain the big picture risks in a single page, the product can’t be suitable for the general public, can it?”
+{{quote|
-{{quote|“Can we cross reference to a full prospectus so —” <br>
+“Can we cross-reference to a full prospectus so —” <br>
 “No.” <br>
 “But —” <br>
 “''No''.”}}
-The legal community reluctantly demurred, but insisted on generating a hundred-page prospectus ''as well'', despite the transparently obvious fact that ''no-one, [[RESIDENTS OF NEW HAMPSHIRE|frequently not even the lawyers preparing it]]'', would ever read it.
+The legal community reluctantly demurred, but for a time insisted on generating a hundred-page prospectus ''as well'', despite the transparently obvious fact that ''no-one, [[RESIDENTS OF NEW HAMPSHIRE|frequently not even the lawyers preparing it]]'', would ever read it.
-There is now a curious dissonance: retail investors — who are meant to be clueless ingenues, unable to tie their shoelaces for all the grandchildren dandling on their knees — are allowed only a few hundred words to explain structured products. Eurobond investors, who are bona fide accredited financial wizards, are presumed to not bee capable of grasping the idea of a floating rate note without the help of three hundred pages of contorted mush.
+There is now a curious dissonance: retail investors — who, remember, are congenitally clueless ingenues, unable to tie their shoelaces for all the grandchildren dandling on their knees — are given only a few hundred words to digest the catastrophic potential of [[packaged retail investment products]]. Institutional eurobond investors, on the other hand, who are bona fide accredited financial wizards, are presumed to not be capable of grasping the idea of a [[floating rate note]] without the help of three hundred pages of contorted, 9pt mush.
 {{sa}}