money - Page 3

“We have never lived before under the threat of a global collapse. The financial ecology is swelling into gigantic, incestuous, bureaucratic banks — when one fails, they all fall. We have moved from a diversified ecology of small banks, with varied lending

Whenever we hear about national crises such as the credit downgrade from AAA to AA+ on Friday, August 5th, we’re always made aware of macroeconomic repercussions such as future governmental actions and the interpretations of huge investment banks including Goldman Sachs, Merrill Lynch,