Joelle Nebbe-Mornod's Library tagged law → View Popular, Search in Google

In other words, contrary to the received wisdom, stock markets do not produce conflicting opinions. They unduly favour mimicry among investors, not for obscure reasons of crowd psychology, but because that is what good sense dictates. Going against long-term market developments is too risky.
The explicit strategy was to create a single financial market where all stakeholders (banks, funds, companies, individuals, states) could share in all maturities (short-term, medium-term and long-term) using all the instruments available (stocks, bonds, derivatives and currencies). It was a world of universal interconnection and perfect, unhindered liquidity.
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- Keynes's basic position was that, if the future is entirely unknown, the idea of a correct valuation disappears. There are only subjective valuations. Moreover, for him the purpose of the markets was not to provide correct valuations, which do not exist, but to make investments liquid; in other words, to ensure that the securities they represent can be traded from stable foundations.
- For supporters of the efficiency paradigm, crisis is above all about opacity. The securitization of credit fails because it produces opaque securities whose risks cannot be assessed. To resolve a crisis there must be a return to transparency, they argue, and this is what regulation must impose on those involved. In other words, it is not the financial mechanisms themselves that are intrinsically at fault but securities, which were badly designed at the outset. This analysis does not question markets' efficient allocation of capital. The rationale behind universal interconnection allowing totally free movement of capital in all forms is not disputed.
- Transparency is not sufficient to ensure financial stability, because it is the financial mechanism itself that produces instability. Bubbles can form with absolutely transparent securities. The Internet bubble was a good example of this. During that episode, we witnessed the formation of an entirely transparent speculative bubble. Investors were well aware that they were buying securities from companies that had high deficits, but these deficits were interpreted by the markets as proof of their dynamism. Similarly, perfectly transparent sub-prime securities allegedly created a bullish bubble.

Apr

2011

That's not my name - The F-Word

In English law, your name is what you are known by: and so long as you are not doing so for purposes of fraud or pecuniary gain, you can call yourself what you like. Identity theft? Another nonsense excuse. Your identity is in practice a bundle of proofs

www.thefword.org.uk/...not_one_of_your

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gender law delicious

And there’s a clue. I have spent many years working with systems, analysing, developing and streamlining processes. In many, many of the cases I have encountered, companies have real difficulty in ‘changing’ a name because as far as their system is concerned a name is a unique thing: something you have one of at a time and - again in system terms - a personal attribute without a past. Your name is what you are called now.

It is not conceptually difficult to set systems up differently: to maintain a personal history and an audit trail, so that individuals can change names, with some record of previous aliases for checking purposes. Passport offices do so, some benefit systems, too. That would make life that much simpler, less fraught for all those who do undergo name changes: mostly women and the transgendered.

IT systems, however, tend historically to have been designed by men, who have next to no experience of the sheer inconvenience that follows on a change of name. At the same time, they are just as likely to dismiss any complaint about ‘the way things are’ as no more than the usual feminine whinge. After all, its such a small inconvenience, why would anyone ever mind?

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