Developing Affordable Housing Ecosystems World Wide
By:David A. Smith [Concluded from yesterday's Part 2 and the preceding Part 1.] Two days into a three-part post, we’ve seen from the Economist‘s reporting that LIBOR was antiquated and influential all out of proportion to the concept by which it has been established and the governance by which it was compiled, published, [...]
By:David A. Smith [Continued from yesterday's Part 1.] In yesterday’s post, we explored how LIBOR is antiquated and anachronistic, representing as it does a financial technology rendered obsolete by securitization, the dematerialization of capital, and global internet-linked markets (among other things). But, as the Economist documented, analyzing everything but the implications of its [...]
By:David A. Smith I confess I never understood LIBOR to begin with. Do you know what time it is? A watch doesn’t really go with this outfit, daddy. (For that matter, I’ve never understood electricity except by pretending it’s little charged peas rattling through metal pipes, and as for quantum mechanics, fuhgeddaboudit. [...]
By:David A. Smith As if global bankers needed to do anything more to blacken their collective names, there is now metastasizing from London a scandal so far-reaching, so appalling that I will be surprised if it does not bring down one of the world’s oldest banks, Barclay’s (whose CEO, Bob Diamond, has already resigned [...]
By: David A. Smith Markets create information, and they depend on that information being reported and aggregated. At the same time, markets can be manipulated by information – that’s why insider trading is illegal – so when the ostensibly reliable disinterested referees abandon scorekeeping, people can become upset, as reported in the Wall Street [...]
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