Expense Account, Mint
Calvin and Hobbes play this wonderful game called Calvinball. The key feature of the game is that it operates under rules, but these are “subject to be changed, amended, or deleted by any player(s) involved. These rules are not required, nor necessary to play Calvinball”. This game looks suspiciously like the Indian financial product intermediation space. All regulators can point to pages and pages of rules. But when you play the game, all these are ignored to form completely new ones as the game goes along.