In Dark Pools, Wall Street Journal reporter Scott Patterson tells the story of the group of whizzkids who applied their computer programming genius to the invention of 'robot versions of Warren Buffett'. As they did so, they created a radically new trading system in which machines trade anonymously with other machines, making and losing fortunes in the blink of an eye. This state-of-the-art technology has transformed the financial markets, but it has also raised some disturbing questions. If computers are trading with each other, does that mean that people have lost control? How can this system be monitored, let alone regulated? And if it all comes crashing down, whose fault will it be? Pacy, fascinating and revealing, Dark Pools takes the lid off the new-look financial markets, and comes to some chilling conclusions.
Essay from the year 2012 in the subject Business economics - Miscellaneous, grade: 1.67, Jacobs University Bremen gGmbH, course: Financial Constitution (in Time of Crisis), language: English, abstract: "The cardinal maxim is that any aid to a present bad bank is the surest mode of preventing the establishment of a future good bank" wrote the British economic journalist Walter Bagehot in 1873. In his evaluative analysis, Bagehot stretched the potential problems that may arise as a result of government's interventions. Although there has been more than a century since his comments on the pre-mature idea of a bad bank and interventions, the discussions on the utility of bad banks persists in today's financial spectrums. In economic terminology, bad banks are used to take risky assets from otherwise good banks. This essay will first address the idea of so-called bad banks as a new financial instrument and then will focus on the analysis of their impacts on crises development.
In an African village live seven brothers who make family life miserable with their constant fighting. When their father dies, he leaves an unusual will: by sundown, the brothers must make gold out of seven spools of thread. If they fail, they will be turned out as beggars.
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