Son of man...
"What are the roots that clutch, what branches grow Out of this stony rubbish? Son of man: You cannot say, or guess, for you know only A heap of broken images, where the sun beats... Waste Land - T.S. Eliot" In the wake of the financial crisis, people called for more regulation. Regulation and transparency. More regulation by whom? By the same people who got us into this mess? By the same people who were running a Ponzi scheme, and Nasdaq at the same time? I think we generally tend to underestimate our inclination to make mistakes, overestimate our powers to solve them, and our willingness to ignore them. In my humble opinion this is the fundamental reason behind the crisis we are facing now. To understand which simple flaws in human behavior lead to the crisis, I recommend the brilliant animation by Jonathan Jarvis, titled "Credit Crisis Explained". Thanks to Engin for bringing to my attention. The Crisis of Credit Visualized from Jonathan Jarvis on Vimeo Those...