The global meltdown of the late 2000s and the day after tomorrow : a futuresque analysis
Financial-market crises are not always much different from financial scams. A financial scam usually leads to wealth-transfer from a system to some persons or entities. The system may be a government, a group of people or firms, or, simply, investors-at-large. A typical example may involve dishonesty on the part of the sellers of an asset, for which the buyers suffer losses. A financial crisis, on the other hand, may involve stupidity on the part of the marketing-agents (like, say, the investment bankers or brokers), which also leads to loss for the buyers. The recent scam that started in 2007 involved both: dishonesty as well as foolishness on the part of the sellers (if not the buyers too). (fragment of text)
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