Scorning the Financial Gods — And Paying the Price After the tech bubble, the healthy and natural progression dictated we enter recession. Alan Greenspan never allowed us to take that medicine, opting instead to inject the economy full of fiscal and monetary drugs. The resulting imbalances steadily built through the years and arrived at our...Read More
How Culpable is Wall Street? “The pressure on financial engineers . . . has been to compete to get new products out the door quickly, with their firms showing little patience for multi-year research and development. It’s too bad these new products could not be labeled “beta” . . . to warn that products are...Read More
Creative Responses to the Financial Crisis I suppose it’s just another a sign of our warped, contemporary values that we have a Strategic Petroleum Reserve (“SPR“) — heaven forbid our SUV’s become idled — but nothing equivalent for food. Clearly, the ongoing financial crisis is going to be with us for awhile longer. In the...Read More
