Sublime

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In 2014, Forbes ranked him as the 134th richest American, at $3.8 billion. One of his hires was Jeff Bezos, who, while researching business opportunities in 1994 for Shaw, got the idea for an online bookstore and left to start a company called Amazon.com. At $30 billion in 2014, Bezos was the fifteenth richest American.

What remains of interpersonal, non-programmatic banking is likely to look very similar to the proscriptions of Islamic finance, with a dramatically reduced role for debt, and a focus on risk sharing rather than risk transfer.

Third, this constant and pointless demand for financialization will create political and business opportunities to better facilitate it.

Securitization had produced the most toxic financial assets in the world – Fabrice Tourre was just one of an army of financial engineers manufacturing them – and had spread them far beyond the originating banks; revealingly, the near-total collapse of securitization in the course of 2008 was a key feature of the crisis.

The first, and most important, of the three kinds of money is the credit extended by conventional, nongovernmental lending institutions. In order of size of their mortgage holdings, the most important of these institutions are: savings and loan associations, life insurance companies, commercial banks and mutual savings banks. Added to these are var

Minsky’s seminal theory was called the financial instability hypothesis. The idea isn’t heavy on math and formulas. It describes a psychological process that basically goes like this: • When an economy is stable, people get optimistic. • When people get optimistic, they go into debt. • When they go into debt, the economy becomes unstable. Minsky’s