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Comment: In 1998 there was the LTCM decacle

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In 1998 there was the LTCM decacle

Submitted by Ian56 on Fri, 07/13/2012 - 11:24.

which Greenspan bailed out.which then led to the Nasdaq bubble, which then led to the ...

LTCM was a concoction of maths "geniuses" with zero common sense or knowledge of history - like the peeps producing risk algorithms for MBS's in the backrooms of banks in 2001 to 2007.

There was also the Asian currency crisis.

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"In the end, more than they wanted freedom, they wanted security. They wanted a comfortable life, and they lost it all -- security, comfort, and freedom. When ... the freedom they wished for was freedom from responsibility, then Athens ceased to be free."