Sound pessimistic, no, in fact it is scriptural, ‘In the end men’s hearts will fail.’ I brought up the point about deregulation and intertwined incestuous relationships, however, I did not understand the factual details as you have posted here.

Thanks for a great post. I look forward to more in the not so distant future.

PS Let’s all try to keep our heads and remember it is *Only Money*.

Sadly, the long-running bull market, combined with the apparently reckless rush to de-regulation, closed the ears and eyes of many players. The results have been spectacularly demonstrated this past few weeks and the repercussions will resound for some time to come.

From a systems perspective, the de-regulation of Financial Services shows all too clearly why we must always design control processes into every system.

Self-organisation is a fundamental principle for a truly living system but self-regulation in the Financial sector seems to be an operational fallacy.

Call it the “credit crunch” if you must. But I prefer the term “crisis of integrity.”