Puget Sound Business Journal Opinion Piece - Mike Kunath

« Back to list

11/7/2008

Are sovereign investment funds the new economic model?

 

Published: November 10, 2008

 

The Western financial system, as we know it, is dead. Not tarnished or cracked. Dead. With its demise go the Anglo laissez-faire financial mechanisms of the Reagan-Thatcher-Kohl era that have held sway for nearly three decades. The American subset, affectionately referred to as “the cowboy experiment,” run by self-centered eccentrics, is at the root of this collapse. After all, New York, not London, had been the creator of new financial products, strategies and entities. We were the innovators. Leverage was the tool. And greed was the measure of success.

 

To continue reading, go to: http://seattle.bizjournals.com/seattle/stories/2008/11/10/editorial7.html?surround=etf