I'm sometimes writing for the english speaking audience. The following article has been published by the canadian bilingual online Magazine "Le québécois libre".
The Seven State Regulations of Markets That Made the Crisis Possible, By Vincent Benard
Human enterprises sometimes fail. Bad judgement, excessive greed, bad luck, poor risk management — all of these things are common human foibles, the necessary counterparts of all the qualities that make human beings so unique. The ability to succeed is consubstantial with the ability to fail.
So when analysts put the blame for the present financial turmoil on bad judgement, excessive greed, poor risk management, and black swans, they bring nothing new to what we know of mankind. The right question to ask is: why, this time around, has this well-known ability of some people to fail been so economically destructive ?
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