Comments on: Two views of financial innovation A slice of lime in the soda Sun, 26 Oct 2014 19:05:02 +0000 hourly 1 By: Anonymous Wed, 26 Mar 2014 09:33:38 +0000 Nice article. Wonderful article i should say and thanks for your data. Training happens to be a matter. But, remains on the list of primary issues of our period. I anticipate more and enjoy your article.

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By: AdrianMonck Mon, 30 Apr 2012 12:29:58 +0000 And apologies for “you writes”…

By: AdrianMonck Mon, 30 Apr 2012 12:29:08 +0000 Up to a point, Lord Copper. There’s plenty of acknowledgement in quotes like these:

The Preface “…there is no doubt that some innovations in financial services mutated from their original purpose and contributed to the crisis.”

You writes: ““Financial innovation has a long history of success” — and that very much sets the tone for the rest of the report.” One sentence later that is followed by “This report acknowledges that some financial innovations were centrally involved in the events leading up to the financial crisis and ensuing recession. Indeed, the project was commissioned to examine innovation in financial services in order to understand how or why it may sometimes contribute to negative outcomes.”

Further along…”This report maintains that the financial services sector should acknowledge that to at least some degree its innovations contributed to causing the crisis.”

You write: “Instead, we just get lots of unsupported assertion, like the statement on page 40 that “most financial institution failures and insolvencies are not linked to financial innovations” The report goes on: “However, as the recent crisis has shown, the misapplication or wrong design of financial innovations can sometimes play
a role in the downfall of an institution.”

So not quite as black and white as you suggest. More the grey colour of the font.

By: MrRFox Mon, 30 Apr 2012 12:28:23 +0000 @Upstater – you wrote:

“Wait second, WEF and the US national security state are composed of the SAME elites. * What do we do now?”

Pretty obvious, isn’t it? When the time is right – pin the tail on all those associated with either of those donkeys.

By: jonners Mon, 30 Apr 2012 12:20:10 +0000 Hi Felix, been a while, loving your work.

Your views on financial innovation are well established. Are there any that you like that don’t have a direct and immediate impact on the man-in-the street? Theoretically is it possible that there could be a financial innovation which helps companies (the convertible bond say) through which success the MITS benefits sufficiently to pass your criteria?

The vast majority of financial products are developed for corporates, to assess them against consumer banking criteria is perhaps to miss something.

By: upstater Mon, 30 Apr 2012 12:02:45 +0000 WEF should be designated a “terrorist organization” annd all the full-force of the US national security state pledged to shut it down, along with all of its financial supporters.

Wait second, WEF and the US national security state are composed of the SAME elites.

What do we do now?

By: MrRFox Mon, 30 Apr 2012 05:49:52 +0000 Oh please, Felix – you’re pressing right up against the line between naïveté and disingenuousness. The WEF is the ultimate collection of status quo elites. You can’t be gullible enough to believe that such a group is going to conduct anything that could fairly be described as an objective assessment of its own failures, can you?

This part of your piece is galling – “Reading this WEF report, however, I’m forced to conclude that they don’t actually have a clue how bad the 2008 crisis was;”.

Come on, Felix – everyone knows how close to destruction we all came in 2008. The WEF-types also know how much dough they made in the process of taking us over the cliff. The report’s purpose is simply to protect that fatted, financial milk cow of the elites and excuse themselves from any responsibility for the damage they have visited on us all.

Regulation isn’t going to accomplish anything – and I think you know that. More comprehensive and brutal measures are the only remaining hope. Things will have to get worse to bring that about; the sooner they do the sooner we can begin the process of rebuilding – and of imposing “justice” on the guilty parties.

By: prajaniati Mon, 30 Apr 2012 04:32:54 +0000 Nice article, thanks for the information.
Anna @

By: Foppe Sun, 29 Apr 2012 23:39:48 +0000 The Frontline docu is just more of the same ‘there was no alternative’ whitewashing of elite incompetence/corruption. rontlines-astonishing-whitewash-of-the-c risis.html