Niall Ferguson: "Chimerica"

[jossilv23]

great idea i have ever heard!!

hope it can solve the global economic recession.

[countingmoons]

these credit crises are all orchestrated for the benefit of a select few with real power.

[Aliothemage]

Is it me or does this gentlemen seem to harbor a hidden degree of eagerness at the fall of America's hegemony that might be quickened by the financial crisis?

[mapleavenue77]

@Aliothemage I don't think so. Ferguson has always had an admiration of strong market-driven economies like the UK or the USA.

[mustang607]

Rewarding failure, or other ideas of socialism, never works in the long term.

[nethrit]

I just read his book "The Ascent of Money". Wonderful tome. He has done a lot of research. I learnt a lot from it. Erudite fellow.

[bloodfish7]

@nethrit me too, i get the term from that book also

[3ballard]

Excellent talk.

[aranman1946]

Like it or not the American financial system needs to be more regulated to stop the excesses of corporate greed and coruption.

[eatandtravel]

We just have to accept the imperfections of western economics. No set of rules will prevent the next economic disaster.

[aranman1946]

eatandtravel

Western economics did not just happen, they evolved. It may well continue to evolve and imperfections will be minimized, you are right though as challenges occur we accept them but we must also manage them and minimize risk.

[eatandtravel]

A1946,

Greed? Come on. Let the market dictate on pay. It sucks that an idiot movie star is making a ton of money but that's life.

In my view, we don't need more regulations. People need to do their homework and not rely on a broker or a rating agency.

Get rid of the credit default swaps because it gives an illusion of protection for investors. I guarantee you no investor would buy high risk financial products if credit default s didn't exist.

[montyloree]

hmmm... you're partly correct... however it takes creditors and debtors to make a credit crisis... the greedy people who spent themselves into the floor are partly to blame as well.

[dave777blaster]

LIES

the sub prime Mortgage problems are symptoms not a cause.

This fellow talks smartly but has no bearings on the financial system failings

The cause in fact was greedy wall street people who leveraged it all up 30x or 40 x.

SO they could get their million dollar bonuses.