"Last October, Alan Greenspan — who had spent years assuring investors that all was well with the American financial system — declared himself to be in a state of “shocked disbelief.” After all, the best and brightest had assured him our financial system was sound: “In recent decades, a vast risk management and pricing system has evolved, combining the best insights of mathematicians and finance experts supported by major advances in computer and communications technology. . . . The whole intellectual edifice, however, collapsed in the summer of last year.”
(New York Times, 6 August) RD
The Glasgow & Edinburgh Branches Blog. Towards a better understanding of the world, in order to change it.
Subscribe to:
Post Comments (Atom)
-
Paternalism is a common attitude among well-meaning social reformers. Stemming from the root pater, or father, paternalism implies a patria... -
Ecuador's President Rafael Correa said Washington must let him open a military base in Miami if the United States wants to keep using an...
No comments:
Post a Comment