Knight Capital: Just a Warm-Up for the Big One?

Anyone betting that the global financial system will continue to muddle along indefinitely deserves to reap the whirlwind that’s coming.  As the rest of us well know, the international banking system is being kept afloat solely by political lies, stupidity, corruption, greed and, most of all, egregiously misplaced confidence. It would seem to be only a matter of time before the rotted timbers of this belief system give way.  But what will be the catalyst?  The possibility or even likelihood that the financial system will be toppled by some event no one was expecting was an implicit theme of Nassim Taleb’s widely read 2004 book, Fooled by Randomness.  In the New York Times, Taleb asserted the following:  What we call here a Black Swan (and capitalize it) is an event with the(…)
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© Rick Ackerman and www.rickackerman.com, 2012. |
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