The rise of the machines

The rise of the machines: un éditorial intéressant du NYT sur la crise financière actuelle, notre dépendance toujours plus grande à la technologie et notre tendance à l'autodestruction.

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Bonnie Prince Billy - The way

Homme d'exception?

Article intéressant sur les prises de position actuelles de Warren Buffett sur les marchés.

Like J.P. Morgan, Warren E. Buffett Braves a Crisis

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“Three hundred million Americans, their lending institutions, their government, their media, all believed that house prices were going to go up consistently,” he said. “Lending was done based on it, and everybody did a lot of foolish things.”

As far back as 2003, Mr. Buffett had warned that the complex securities at the center of today’s troubles — once so profitable, but now toxic — were “financial weapons of mass destruction.” These securities were engineered by the math quants on Wall Street, and in the interview Mr. Buffett expressed his disdain: “Beware of geeks bearing formulas.”

To help pay for the rescue, the government should raise taxes on the wealthy, Mr. Buffett suggested. “I’m paying the lowest tax rate that I’ve ever paid in my life,” he said. “Now, that’s crazy.”

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