Hi Joel, As folks read the story,
Message 16016710
let the minds wander through the dark abyss of primeval fear …
“Is my (ass)et basket positioned correctly for the increasing possibility that a financial accident will strike against our hodge-podge piece-meal financial infrastructure and software at a time when the authorities are weakest to effectively respond to systemic cataclysm?”
To put it more simply, if World Wars can happen, twice, in the midst of a carefully formulated structure of alliances, if Microsoft Windows in each and every iteration can keep crashing, and if Nasdaq trading system can twice fail to boot within 48 hours, then why not a financial accident bigger than LTCM happen at a time when all the financial tinder in the world is piled high and deep, debt fuel already liberally applied, derivatives fuse convenient exposed to volatile interest rate and equity spark.
This piece is suppose to make folks feel good about the solidity of the derivative game structure, but all I got from its pages are precisely worded truths hiding the ugly reality of human nature …
google.com
And this piece gives a glimpse of the issues and the combatants, from which I concluded, “do not put trust in the Bank of England's words” …
finance.wat.ch
Chugs, Jay
P.S.
Message 16016709 |
