Saturday, August 13, 2011

In Fibrillation

("As Dizzying Week on Wall Street Ends, Danger Lingers")

This week has been like watching a ventricular fibrillation. And this morning, the doctor has advised us of the likely reasons: "complex risk models and algorithmic analysis.... respond(ing) to fluctuations in global currency markets", "high-frequency trading firms which employ computerized lightning-fast buying and selling" and "leveraged exchange-traded funds".

Doesn't it all have the vague odor of something like "credit default swaps"? It seems too complicated and too remote. The computer pairing with the unregulated to exacerbate our concerns, accelerate the wild swings, and turn what we hoped was just a blip on the monitor into a full blown heart attack.

After hearing the diagnosis, we shake our heads, curse our fates, and fail to take the necessary (legislative) action to bring our symptoms under control. And the cardiologist will be on call again next week.

No comments: