Showing posts with label finance industry. Show all posts
Showing posts with label finance industry. Show all posts
Thursday, July 12, 2012
Living Cells Show how to Fix the Financial System
Living Cells Show how to Fix the Financial System
Great piece exploring the role of hierarchy and networks in the financial system, and how we ignore lessons learned from nature at our peril. In a nutshell, "too big to fail" banks are simply not good for the stability of the system. An interesting read!
Monday, June 11, 2012
The Quiet Coup
THE CRASH HAS LAID BARE MANY UNPLEASANT TRUTHS ABOUT THE UNITED STATES. ONE OF THE MOST ALARMING, SAYS A FORMER CHIEF ECONOMIST OF THE INTERNATIONAL MONETARY FUND, IS THAT THE FINANCE INDUSTRY HAS EFFECTIVELY CAPTURED OUR GOVERNMENT—A STATE OF AFFAIRS THAT MORE TYPICALLY DESCRIBES EMERGING MARKETS, AND IS AT THE CENTER OF MANY EMERGING-MARKET CRISES. IF THE IMF’S STAFF COULD SPEAK FREELY ABOUT THE U.S., IT WOULD TELL US WHAT IT TELLS ALL COUNTRIES IN THIS SITUATION: RECOVERY WILL FAIL UNLESS WE BREAK THE FINANCIAL OLIGARCHY THAT IS BLOCKING ESSENTIAL REFORM. AND IF WE ARE TO PREVENT A TRUE DEPRESSION, WE’RE RUNNING OUT OF TIME.By
Read more: http://www.theatlantic.com/magazine/print/2009/05/the-quiet-coup/7364/
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