Portugal's Espirito Santo Group shows that complex, opaque corporate structures with embedded banks create moral hazard and the risk of fraud.
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Almost nobody actually understands how payment systems work. That is: if you “wire” funds to a supplier or “make a payment” to a friend, how does the money get from your account to theirs?
Acharya and Steffen (A&S), authors of “Falling short of expectations? Stress-testing the European banking system”, have written a confusing paper whose results are biased. Here's why.
For the first time in history, people have the real prospect of no longer having to work long hours in boring, repetitive and physically debilitating jobs to meet basic needs. We will have more time to spend interacting with each other, caring for each other.
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Why they fight - by @tomstreithorst http://t.co/ICWckMTACY
The difference between saving and investment - by @azizonomics http://t.co/AFGEU4leV0
The Stocks and the Flows - by @Frances_Coppola http://t.co/BIzabI4bJC
Cheer - Inequality is Falling Globally!! (and similar nonsense) - http://t.co/FmPVmJReSV
Welfare reform and the "jobs miracle" by @jdportes: http://t.co/WKy16ssZgl