3.23: news.pol/fin'reform/The Big Short:
Michael Lewis, author of
The Big Short: Inside the Doomsday Machine
says finance reform means they must be
allowed to fail ie, by being smaller;
he listed some suggested rules that would
encourage them to seek
that smaller size .
. not being allowed to fail means
there is a strange cheating of capitalism
where the risk is absorbed by the public
while the profits remain privatized
-- leaving no incentive to be sensible .
3.23: bk.pol/fin reform/Big-Short-Inside-Doomsday-Machine/
. this book got a lot of negative reviews,
but, I'm not sure if his critics
are really on the same page .