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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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Nouriel Roubini nicknamed Dr. Doom and lately Dr. Realist by CNBC , is a professor of economics at the Stern School of Business, New York University and chairman of RGE Roubini Global Economics, an economic consultancy firm . Prof. Nouriel Roubini A world-class economist who offers an unflinching look at the global meltdown and distinctive insights into its course going forward. His research on financial crisis in emerging economics has yielded a unique and now vindicated approach to future collapses. Roubini speaks on the global economic outlook and its implications for the financial markets. From his analysis of past collapses of emerging economies, he has identified common factors that support his predictions of crisis in the US and world markets. He has held several high-level advisory positions in the US government and international finance organisations, published numerous policy papers and books on key international macro-economic issues and is regularly cited as an authority in