Sunday, November 30, 2008
In his op-ed column titled All Fall Down, Thomas Friedman provides a rather succinct account of the chain of financial missteps that the US financial environment was able to permit in recent years. This is a good reminder, and an analysis, that some form of regulatory oversight is required to prevent such meltdowns from occurring. Thus, the ideological "hands-off" approach of some politicians regarding the economy is very flawed.
What is always required is some sort of oversight to ensure that the resources in a system are deployed properly. Why else do we have operating systems overseeing resources in a computer system?