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2016-05-06

Michael Lewis about Book by Mervyn King. “The End of Alchemy”

King’s starting point is that the 2008 crisis wasn’t an anomaly but the natural consequence of bad incentives that are still baked into money and banking -- and so quite likely to create another, possibly even greater, crisis.

“The strange thing,” he writes, “is that after arguably the biggest financial crisis in history nothing much has really changed in terms either of the fundamental structure of banking or the reliance on central banks to restore macroeconomic prosperity.” 


Michael Lewis, Bloomberg 5 May 2016 

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