Monday, March 5, 2012

Financial amnesia

Actually, there are all sorts of amnesia; this, in part, leads to the bad guys' success (pulling the wool). Who wants to be eternally watchful (and fearful)? Are there not environments where we can trust those there?


Lil Timmy had his say, recently, in the WSJ: Financial Crisis Amnesia. He's right, in a sense. But, does he not know that many remember that he was the head guy there in NY when things were building (boiling) up to the precipice (we've said it before, house of cards)? He doesn't look at questions, such as this: is it only males who run after risk (adrenaline junkies) without due attention to the impact on others?


Somehow, the type of short-sighted-ness shown by certain types (and, that the best-and-brightest, God help us, wrought) is an integral part of mankind's makeup. One of the things that we've railed about is that 'leaning' reduces memory, similarly. That is, things are cut to the quick so as to optimize some stream of activity without regard to side-effects (oh, I know, making money is the game -- or, running after the chimera).


I saw a cartoon that depicts the situation of business (in its usual sense): large boat, two rowers (there were other seats for additional rowers - but, of course, leanness threw them out) trying to move the big thing.


Cynicism? No.


We'll need to address amnesia (call them cognitive holes) under truth engineering.


01/15/2015 -- At last, a series that will establish the basis and extensions, as required. We are going to go back to some simple and come forward to the modern, complicated economy. Why? My long chain of ancestors (inherited via Prof. Lucio Arteaga) is one motivation.

12/13/2012 -- Don't know how long this page will be there, Daily Ticker. But, when I looked, 69% had said 'no' (hurt rather than helped) as to whether Ben has helped.

05/22/2012 -- FB will be a focus for discussion.

05/04/2012 -- A recent filing relates to this theme.

Modified: 01/15/2015

1 comment:

investment in farmland said...

I am British, whenever I see that term "best and the brightest", I think of that book about Vietnam by an American journalist called "The Best and the Brightest" I believe.. As I recall, it was how the "best and the brightest," the American elite, got dragged into an unwinnable war in Vietnam do to a combination of arrogance and poorly though through assumptions. Seems like a good summary description of the investment bankers.