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Broken Masters

These days you can't tune in to the news without hearing about the credit crisis and all manner of pump and faucet metaphors to describe the lack of liquidity in the markets. By the time this is over clueless folks like myself will have gotten educated despite ourselves - they are really dumbing this stuff down to the third grade level so none of us are left wondering about what's going on. The editor of Seed Magazine describes what is really responsible for all this - i.e. broken trust. He concludes his article thusly :

PS. One way to think of the financial markets right now is that instead of being populated by rational agents, they're full of people with borderline personality disorder.

Is it possible perhaps the financial markets had always been full of people with full-blown personality disorders who imagine themselves to be the Masters of the Universe in the manner of the fictional Sherman McCoy ? Maybe that is exactly why things are so royally messed up.

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