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How our Greed Turned To Fear, Again November 23, 2008

Posted by tkcollier in Economy & Business.
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Losing our shirt? The problem is that our banks are also losing theirs. Illustration by Barry Blitt.

Losing our shirt? The problem is that our banks are also losing theirs. Illustration by Barry Blitt.

Not so long ago, the dollar stood for a sum of gold, and bankers knew the people they lent to. The author charts the emergence of an abstract, even absurd world—call it Planet Finance—where mathematical models ignored both history and human nature, and value had no meaning. A lengthy but cogent explanation of how we got here.

via Wall Street Lays Another Egg: Politics & Power: vanityfair.com

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