How Greenspan's Framework Went Awry - Daniel Kahneman

Complete video at: http://fora.tv/2009/01/27/Nassim_Taleb_and_Daniel_Kahneman_Reflection_on_a_Cr...

Nobel laureate Daniel Kahneman examines Alan Greenspan's financial framework in light of the current economic crisis.

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Author Nassim Taleb and Nobel Laureate Daniel Kahneman discuss the intricacies of the financial crisis and its far-reaching influence.

Looking forward, they offer proposals to remedy the situation and prevent it from ever recurring. - DLD 2009

Daniel Kahneman is Eugene Higgins Professor of Psychology and Professor of Public Affairs Emeritus at Princeton University. He was educated at The Hebrew University in Jerusalem and obtained his PhD in Berkeley. He taught at The Hebrew University, at the University of British Columbia and at Berkeley, and joined the Princeton faculty in 1994, retiring in 2007. He is best known for his contributions, with his late colleague Amos Tversky, to the psychology of judgment and decision making, which inspired the development of behavioral economics in general, and of behavioral finance in particular. This work earned Kahneman the Nobel Prize in Economics in 2002 and many other honors, including the 2006 Thomas Schelling Award given by the Kennedy School at Harvard "to an individual whose remarkable intellectual work has had a transformative impact on public policy", and the Outstanding Lifetime Contribution Award of the American Psychological Association in 2007.

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[billyjoeallen]

If firms are not rational, then why would democracies be rational?

[McArrowni]

I guess you missed the part where you are paying for the super rich's mistakes, whilst they get away with slightly lower bonuses.

[allgoo19]

@pismo10 "Have an ice cream, you'll feel better."

You probably don't make enough money to buy an ice cream.

You lack average size brain.

You don't even know what a profit means, right?

[pismo10]

@allgoo19 Have an ice cream, you'll feel better.

[allgoo19]

@pismo10 "You must be very bored,."

Opinion with nothing to back it up bores me.

If that's what you mean, yes I'm bored.

Do you have any proof that your opinions are unique to your own? Prove me wrong.

"making profit" means it generates more money than flow of money put into, not "keeping alive"

You have nothing to say about this?

[pismo10]

@allgoo19 You must be very bored, go back to reading your comic books and you'll be happy again...GM blows, get over it.

[allgoo19]

@pismo10 "GM would not be black if .."

I run into this thread again, it's been 5 months since my last post.

I looked at your home page. Not surprisingly you are Peter Schiff follower.

Basically you are selling his words without thinking anything critically into his opinion, just like so many others. That's why you are unable to prove your point. Your thinking ability is pretty shallow.

"making profit" means it generates more money than flow of money put into, not "keeping alive"

Understand?

[pismo10]

@allgoo19 GM would not be black if it were not for the flow of printed money keeping it "alive" GM should have gone bankrupt, reorganized. Try to look a little deeper. I suppose you believe GM paid back it's loan dollars as well. LOOK DEEPER. Think...It wont' hurt to bad until you find reality, then it will really hurt.

[allgoo19]

@pismo10

"GM is now another liberal welfare program surviving on printed dollars.."

I didn't ask your personal opinion. I asked you an info. that says "GM turnsed into profitable company is false".

Where is it?

We'll talk about this topic based on facts, not each other's personal opinion.

Understand?

[pismo10]

@allgoo19 GM is now another liberal welfare program surviving on printed dollars, nothing more. Open your eyes you foolish child, everything the govt touches is crap, IRS, DMV, SS, Medicare, -caid, postal service, on and on. All wasteful and bankrupt. 23 years to build one runway in Atalanta, you really want these people running your life? Welfare(govt) is not the answer. Read some history and learn something.

[allgoo19]

@pismo10

"I wish that was true..."

What truth you have then.

Show me.

If you can't, it's about time for you to change you view.

Otherwise, you'll be chanting the same thing over and over in a religious way.

Use your brain.