The Seer's Advice

Only a few people warned that this supercharged financial system might come to a bad end. Perhaps the most notable Cassandra was Prof. Raghuram Rajan(B.Tech from IITD, MBA from IIMA and Ph.D in Finance from MIT;only Indian to become Chief Economist of IMF) of the University of Chicago, a former chief economist at the International Monetary Fund, who argued at a 2005 conference that the rapid growth of finance had increased the risk of a “catastrophic meltdown.” But other participants in the conference, including Lawrence Summers, now the head of the National Economic Council, ridiculed Mr. Rajan’s concerns.Mr. Rajan Was Unpopular (But Prescient) at Greenspan Party.

And then the meltdown came.

Now, to fix the broken regulatory system 'The Seer' has some exicting ideas. Click Cycle-Proof Regulation to understand the jest of some of the best(in my opinion) ideas floating around.