Nassim Taleb on #OccupyWallStreet and Global Banking System

From Bloomberg:

Nassim Taleb, author of "The Black Swan" and a New York University professor, discusses the "Occupy Wall Street" protest and his view of the global banking system. Taleb, speaking with Erik Schatzker on Bloomberg Television's "InsideTrack," also discusses the need to apply the principles of "Hammurabi's Code" to the banking system.

http://www.bloomberg.com/video/78027552/

From Jesse’s Café:

I have had this link up, but I wanted to feature it here because so many have missed it, or missed the key message which is that the economic system is broken and that there can be no sustained recovery unless this is repaired.

When even so-called liberal economists decried the resistance to TARP, and categorized concerns about moral hazard as a kind of economic Puritanism, I knew things were worse than I had expected.

The most recent performances and reactions from politicians, especially on the right, merely confirms the intransigence of the monied interests. They have given themselves over in the service of greed, and care little or nothing for their country except as a source of power and income.

The silence of the traditionally progressive classes and institutions is deafening. They are preoccupied and conflicted by their own narrow interests, scandals and aspirations, both at home and abroad, and fail to rise in defense of the many. And that is a tragedy.

http://jessescrossroadscafe.blogspot.com/2011/10/nassim-taleb-on-moral-hazard-and-broken.html