Systemic Breakdowns: Still Relatively Rare

Rick Bookstaber has stopped blogging, so does Jim Surowiecki feek a need to fill the gap? Here he is channelling Bookstaber in the pages of the New Yorker:

The situation illustrates a fundamental paradox of today’s financial system: it’s bigger than ever, but terrible decisions by just a few companies–not even very big companies, at that–can make the entire edifice totter…
…
Original Source

  5 February, 2008| Economy | @ 22:02

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