Please post your questions/critical remarks relating to:
- Carruthers 2015. Financialization
- Carruthers 2016. The Economy of promises: Trust and Credit in America https://www.youtube.com/watch?v=8g3Zv0etkT8 (minute 04:22 to 59:42)
Carruthers 2015
- bankruptcy is like survival of the fittest, but for companies
- “selling” receivables as assets is quite smart with mortgage pass through
- what happens to mortgages when the bank with pass through goes bankrupt?
- information … why not make everything public and only sell your “insights” of that data as credit ratings. Each company can do their own calculations/predictions → no more Herding
- regulation, more like standardization and less like actual market intervention
- not that I think it is wrong, it is named poorly
- ISDA, 2006 … is this actually necessary for the market to function or just another benefit for the top 1%?
Carruthers 2016
- nice talking speed, 2.5x is easily possible
- “You can trust someone not trustworthy, then you made a mistake” I like that quote
- the 4 big C’s (character, capacity, capital, collateral)
- “Big Data of the 1880s”
- social implications of low credit score, like dystopian social score