Credit Crunch to Stay Until Bank Leadership Goes
Thursday August 21, 2008
Nassim Taleb has a reputation for straight talk, and his books provided foresight and insight into the current crisis. In a recent Bloomberg on the Economy show, Taleb reassures us that he's won't mince words. He claims that the credit crunch and economic bumps will stay around as long as top management at financial institutions does.
Taleb compares the banking crisis to medical care: the doctors killed all the old patients, and now the same doctors are claiming that they can save our new patients. Their views on risk and management did not keep us out of trouble, so they won't get us out of trouble.
To hear more, download the Nassim Taleb interview (MP3 File).
How and when do you think the banking crisis will lift? Tell us about it in the comments.
Shop Taleb's Books:
- The Black Swan - The Impact of the Highly Improbable
- Fooled by Randomness - The Hidden Role of Chance in the Markets and in Life
Further reading:
Comments
Thank you for adding Taleb’s thought to your post. I am an industry leader in commercial real estate and have just read his work. I believe we are long overdue for some fresh perspective.
I am just a street cop and I read the book 2 years ago because as a sort of risk manager myself I thought it was insightful. Thanks for including this.
Wow Cool !
Super Man
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Заранее благодарю)
Predictions? They aren’t relevant right now. They are a tease, but, the system is way too complex to predict.