Exclusive: U.S. banking regulators hire math geeks of their own

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nose2066 wrote:

The basic model for capitalism, is a bunch of small vendors taking their products to market and all making independent decisions.

By contrast, the U.S. financial system is based on a few, huge financial institutions (too-big-to-fail) who all monitor each other’s actions and try to imitate anything that the other guys are doing that seems to be successful at the moment.

And as if that weren’t enough, the standardized computer models will ensure that they all make the same mistakes at the same time.

May 09, 2014 3:22am EDT  --  Report as abuse
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