I have seen the best minds of my generation degenerate before the babbling of funds managers. I have sat and wept then as this fond generation then dissipated it fortune at the gaming tables of international finance. I believe like a crab we make progress sideways, that there are lessons from the current financial and economic mess which we can learn and apply. I hope for financial reform that:
- increases transparency
- rewards long-term investment over day trading
- levels the playing field for the small investors
- deflates asset bubbles
- prevents moral hazard
- recognizes that the financial markets are neither necessarily rational nor efficient