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Maybe This Financial System Can’t Be Fixed

Hey my newest Bloomberg Opinion column is out:

 

Maybe This Financial System Can’t Be Fixed

Better risk management isn’t enough. We need a different paradigm.

 

For my other columns, go here.

Categories: Uncategorized
  1. Ralph Trickey
    September 14, 2018 at 2:26 pm

    If you want accurate risk management, ensure they are not to big to fall and make sure they know they can fail. It won’t fix the problems about the unknowns, but it will help a lot.

    Like

  2. Robert Domitz
    September 20, 2018 at 1:25 am

    In many ways, the financial system has not grown up since California proclaimed “Thar’s gold in them there hills!” It is just a legal version of endless “get rich quick” schemes and Ponzzi schemes. The financial industry contains more than its fair share of adrenalin junkies, gambling addicts, money worshipers and the just plain greedy.

    I believe you are correct that the financial system must be replaced, but I am skeptical that it will happen. After the Depression hit, they tried this and it worked for a while, until the greedy found a way around the restrictions. Within a few years, the rules that led to the prosperity of the 1950s failed. This led us inextricably to the Great Recession. The rules to fix that failure are already being discarded. Can you say: here we go again??

    (BTW, how about an update on the long term outcome of your surgery?)

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