Here's a little gem from Greenlight Capital founder David Einhorn.
It appears in the Forward to Harry Markopolos's excellent No One Would Listen.
'Warren Buffett said, 'You only find out who is swimming naked when the tide goes out'. The financial crisis of 2008 revealed many, including (Bernie) Madoff, to be inappropriately attired. Effective regulation must mean that the skinny-dippers are stopped while the tide is still in'.