Links 5 March 2012

The 1% Had a Fantastic 2010

A Crude Sketch of the Next Black Swan – 03/05/12

A Bull Market in Complacency – 02/24/12

Wall Street’s Broken Windows – the OSC, IIROC and the MFDA should take note…

Excerpt – “He predicted in his work on “broken windows” that tolerating widespread smaller crimes would lead to epidemic levels of larger crimes because it undermined community and social restraints. The epidemics of elite white collar crime that have driven our recurrent, intensifying financial crises have proven this point. Similarly, corruption that is excused and tolerated by elites is unlikely to remain at the level of “a few deals.” Corruption is likely to spread in incidence and severity precisely because it undermines community and the rule of law and it is likely to grow more pervasive and harmful the more we “tolera[te]” it. “

The Tragedy that is Spain

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