I’ve linked here to Bankers Anonymous’ Worldwide Radio Debut today with the BBC’s “World Have Your Say,” in the wake of UBS’ reported $1.5Billion penalty for fixing LIBOR rates between 2005 and 2010.     http://www.bbc.co.uk/programmes/p011x4l8 The Bankers Anonymous portion of the show starts at minute 40:20, and goes until the end. I talk about

Last week I posted a piece on a particular hedge fund’s research[1] from 18-months ago, and then I went on to praise that hedge fund, with 20/20 hindsight, for nailing it, in terms of understanding the Great Recession, and why it’s taking so long to recover from it. In response, in my inbox today I

Will we ever pull out of the Great Recession?  Why is it taking so long? Let me tell you about a hedge fund group that has the best way to think about it that I’ve ever read.  But first, some history. The Summer of 2008 is when things really started to hit the fan. And

Back in College, in social science classes, we learned never to rely on cultural explanations.  Professors excised culturally deterministic phrases from our analysis: “The Spanish society tends to…The African American culture explains…Inevitably, Catholic norms led to… ” Cultures change, as does our view of them, the intellectual posits, and culture drops out as a powerful