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Technology is a great lever to circumvent government regulation. Technology brought us the foreclosure crisis++, but it also brought us Wikileaks. I think techn
by drcode 16y ago
Technology is a great lever to circumvent government regulation. Technology brought us the foreclosure crisis++, but it also brought us Wikileaks. I think technologically-minded people will continue to circumvent the government using their tools, but I don't think we can be herded into a party :)
(++) Those credit-default swaps, etc need lots of technology to manage the accounting.
- pwhelan 16y agoA much better example would be technology brought us companies like LTCM and other quantitative investments that allowed people to borrow 30-70% of assets for leveraged investment (which when the funds had to de-leverage and were unwinding we saw some big stock market volatility).