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I was reading another interesting article(/speech), this time from Britain.
It suggests that what is wrong with out financial system is a political environment that encourages a small subset of people (the managers) to behave in a highly volatile fashion as well as pointing out ways to correct for such a system.
Of interest is return on assets being a better measure than return on equity and tax deductible interest being a prime cause of the volatility.
I should probably look at it again at some later time when I have more time, what do others think?
JM
It suggests that what is wrong with out financial system is a political environment that encourages a small subset of people (the managers) to behave in a highly volatile fashion as well as pointing out ways to correct for such a system.
Of interest is return on assets being a better measure than return on equity and tax deductible interest being a prime cause of the volatility.
I should probably look at it again at some later time when I have more time, what do others think?
JM
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