Too Big To Fail: A Call for States’ Rights

In the wake of the 2008 crisis came the realization that our financial system is teetering on the brink, at the mercy of banks that are too big to fail. A lesson that’s hardly surprising to Software engineers who have known for decades that "God Objects", entities that are far too widely encompassing, produce intractable … Continue reading Too Big To Fail: A Call for States’ Rights →

We Need to Break Up Banks to Prevent the Next Financial Meltdown

In a previous article, we discussed the problem with banks guaranteeing fixed deposits while actually investing the money into speculative, long-term ventures, and how such an arrangement naturally leads to bank runs. There is a second problem in this scenario as well; one that is so commonplace that most people do not even stop to … Continue reading We Need to Break Up Banks to Prevent the Next Financial Meltdown →