Shipping news: Globalization halted by credit crisis

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Credit created a false economy

As with most things, when used in moderation, they can create a desired effect, but when they are over used, they take on a life of their own that is hard to control. With credit, the risk of the activities have been separated so far from the financers of the activity that we lost sight of the risk. The lending activities were abstracted into poor risk management theory.

In all of this lay an opportunity to remove the lenders from the process and recover the costs of those activities. Directly associate the risk and manage it as the business risk it is, not these PR intensive sales jobs that we have been seeing. When someone dishonestly took money for services or goods that would never satisfy the claims of what they were to achieve, they used to be called con artists. Now we call them Wall Street types.

Posted by: happyharry_z   Posted on: 11/23/08 You are currently: a Guest | Members login | Terms of Use

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