an example of how panics self-fulfills. what makes some more optimistic/pessimistic is a random walk process.
a decent viewpoint on the diversity of crises' causes. it's not about whom is to blame, but rather what should be done!
http://www.project-syndicate.org/commentary/stiglitz146/English
and a proposal for the ECB (quite reasonable I assume - again everything is about incentives - in this case, what the central bank allows private banks to do):
and a proposal for the ECB (quite reasonable I assume - again everything is about incentives - in this case, what the central bank allows private banks to do):
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