February 14, 2010
February 14, 2010 Compiled: 1:16 AM
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Posted: February 13, 2010 03:00 PM PST
I learn, thanks to great Blog The Big PictureThat the financial world are actively participating in a survey most curious that he initiated the sympathetic, and highly recommended blog Real World economists Review.
The survey attempts to define which are the three most influential economists blame on the GFC (Global Finance Colpse) or global financial collapse.
We encourage you to participate in the survey is very interesting, but first let us see what are the shortlisted candidates and what positions of importance or relation to the economy have each of them:
Fischer Black and Myron Scholes: There were two major drivers with ominous fincieros derivatives calculations that were trying to give importance to their calculation future, hypothetical calculation that only helped to increase the financial bubble even more.
Eugene Fama: His theories of the market to encourage more efficient way antiregulador, and therefore less secure than a secure and quasi-efficient market.
Milton Friedman: He opened the door for everyone, thanks to a simplistic model of monetary circulation, theorizing, without fear of being little connected to reality.
Alan Greenspan: What else to say he was director of the U.S. Federal Reserve from 1987 until 2006.
Assar Lindbeck: The Swedish economist has contributed significantly to the conversion of professional economists and world public opinion towards market fundamentalism.
Robert Lucas: His development of the rational expectations hypothesis, which defines rationality as the ability to predict the future, has served to keep the proposed Friedman on which monetary factors do not affect the real economy and in the name of "rigor" , distanced himself further from the real economy that Friedman had thought possible.
Richard Portes: As Secretary General of the Royal Economic Society from 1992 to 2008, helped suppress the concern expressed by economists not current on developments in the financial sector.
Edward Prescott and Finn E. Kydland: Jointly developed the theory that by omitting the role of credit, would diminish greatly the understanding of the profession of the dynamic economy of macroeconomic processes.
Paul Samuelson: He popularized neoclassical economics, which contributes even more than any other economist to disseminate the need for deregulation of the markets.
Larry Summers: Secretary of the Treasury of the United States.
Posted: February 13, 2010 01:21 PM PST
Marc Spilker, who until now was chief executive Asset Management (asset management equity) of Goldman Sachs and member of the management committee of Goldman, has decided to leave the company unexpectedly New Yorker, as reported by internal reports later this week and realized the web Dealbook.
Marc Spilker to date was in control or management on total assets of 822,000 million dollars, including in this amount: private equity, hedge funds and other internal accounts managed by it directly.
Apparently, and according to the company itself has had an internal document, Marc Spilker will get a senior director in charge of Goldman Group, a strategic position in the corporate group will not directly pay for it.
Of course this goes to show frightened the poor state of Goldman Sachs, in terms of managing own assets. Something that, following the departure of Spilker, will have to start cover Edward Forst, chief executive of Goldman's investments to date.
Forst, who has also been advertised internally and officially, is one of the cornerstones of the company during this crisis, it is also the director of strategic business group, One of the few pillars in which, the board seems to lay the foundations of an early recovery.
Therefore see what happens to those 822,000 million in assets after this change of direction, clearly appears that the change is not based on just a good situation.
Posted: February 13, 2010 01:01 AM PST
With the Chinese government censor the web and trying to suppress online dissent, it seems that the new government offensive in the city of Shanghai, with the holding of the Expo just around the doors, is directed against a practice "is considered very dangerous "and that has become a tradition among the local population. PAJAMAS
The pajamas. If you have heard it seems that Shanghai is a classic walk down the street in pajamas, so the government has decided to mobilize local volunteer committees to be telling those who are wont go walking down the street in pajamas, who are abandoning the practice.
Frankly, I still do not understand very well, the practices of some governments to try to retrain people's behavior, especially when these are completely harmless. Obviously in Spain, we can hit enough to see someone walking down the street in pajamas, but in a city like Shanghai, with some neighborhoods with a high degree of overcrowding, no clear division between public and private space, carrying his pajamas since it is a simple matter of convenience.
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