https://blog.p2pfoundation.net/narrow-decision-making-by-capital-markets-need-to-be-replaced-by-open-and-distributed-decision-making/2008/09/23 Researching, documenting and promoting peer to peer practices Tue, 23 Sep 2008 15:34:19 +0000 hourly 1 https://wordpress.org/?v=5.5.15 https://blog.p2pfoundation.net/narrow-decision-making-by-capital-markets-need-to-be-replaced-by-open-and-distributed-decision-making/2008/09/23/comment-page-1#comment-311594 Tue, 23 Sep 2008 15:34:19 +0000 http://blog.p2pfoundation.net/?p=1871#comment-311594 I prefere the more direct explanation by Umair Haque: that the complex financial instruments where developed mostly to hide the risk. Banks were buying financial stuff and then reselling it repackaged and processed in a way that was hidding some important characteristic of it. They were making profits – just like a factory processing row material into finished products – but the difference was that their products were not better than the row material – they were just better hiding the defects.

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