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Greed, not speed, that killed the economy.

Was it speed or greed that killed the markets? The following was my response to one such claim that my argument that greed rather than speed was actually the main issue this time around:
krenjenmam wrote:
24 Apr 09, 9:08am (about 4 hours ago)
...
MartyninEurope may well think it was greed not speed that killed the economy - isn't SPC's point though, that speed (of transactions) won't help when the lunatics are running the asylum?
The following - with gramatical corrections - was my reply:
In the big picture, the speed at which transactions are processed did not overly influence the financial systems one way or another - this time. Although exchange traded securities can be bought and (frequently) sold before you can say "I changed my mind", this does not apply to all investment vehicles, such as alternative investments - where speed is still relative.
Speed of transaction processing has been a factor in previous, smaller, and well-bounded financial breakdowns, but this was not the case in this far more serious relapse in the health of financial markets and economies.
Print | posted on Friday, April 24, 2009 12:00 AM

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# re: Greed, not speed, that killed the economy.

left by Of course you're not, but you're at 4/27/2009 10:34 AM Gravatar
Agreed, typo.
A greed indeed. I think you are correct on this. Speed via automatic transactions and triggers is now a conspiracy theory of it's own. Has anyone looked into the possibility of select groups instigating and benefiting from 'crisis' announcements.

Surely the economies will recover, but can the model be sustained? This is where your assured clarity over one policy system is useful and needs to be proclaimed and explained. Policy rather than politics?
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