It is not just ordinary citizens and investors who still have questions about how they lost their savings and investments so quickly during the financial crisis — fund managers, financial institutions and sovereign funds too remain perplexed as to how their world collapsed so fast.
Plenty of books, research reports and articles have tried to provide answers — some more successfully than others — but I believe some of the most convincing analysis came recently in the documentary Inside Job, which explored some of the manipulations of derivatives and errors in judgment made by those within global financial institutions.
One of the most shocking aspects of the years leading up to the financial crisis, and one illustrated by Inside Job, was the enormous political influence that heads of finance houses, eminent technocrats and professors of prestigious universities have had in supporting the economic policy of the West for decades. Even, as we now know, when these policies were fatally flawed.
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