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Thursday, October 20, 2011

Nassim Taleb : The banks should be treated as Utilities

Nassim Taleb, author of The Black Swan was interviwed by Bloomberg TV about the #OccupyWallStreet movement and what is his take on the protests that are sweeping not only New York but the world , My fear is that protest will turn into a class struggle he said and that we should apply Hammurabi's Code to wall street and the banking industry this is the best risk management rule ever , it is a deterrent that the banks should be treated as Utilities , the banks are in the business of hiding risk and when things collapse you and I pay the bill he added and that bankers should not be compensated more than civil servants

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