Les Leopold: Let us Now Praise Financial Luddism
Wed, 22 Apr 2009 15:17:09 -0700
The Looting of America: Let us now Praise Financial Luddism From Ben Bernanke, April 17, 2009: The concept of financial innovation, it seems, has fallen on hard times. Subprime mortgage loans, credit default swaps, structured investment vehicles, and other more-recently developed financial products have become emblematic of our present financial crisis. Indeed, innovation, once held up as the solution, is now more often than not perceived as the problem. I think that perception goes too f
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