| Here's something you'll rarely see cited as a problem: The U.S. has too little financial innovation. The creativity of bankers and traders is one thing that enables them to make so much money. They think up fancy solutions to financial problems. Sometimes these involve complicated new securities designed by a couple of math Ph.Ds and may be well-understood by only a handful of people.
Financial innovation was a big factor in the international credit meltdown in 2008. We thought we had eliminated risk with clever financial instruments. We were wrong...............................................Full Article: Source
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