| For the past 25 years or so the financial authorities and institutions they regulate have been guided by market fundamentalism: the belief that markets tend towards equilibrium and that deviations from it occur in a random manner. All the innovations - risk management, trading techniques, the alphabet soup of derivatives and synthetic financial instruments - were based on that belief. Regulators ought to have known better. |
Read the rest of the story HERE:
At marketpipeline.blogspot.com
At marketpipeline.blogspot.com
