This new form of lawsuit funding is called litigation finance. It lies at the crossroads of two Anglo-American tendencies. The first is our litigious side, in which we celebrate our equality before the law by dragging those who have wronged us before a judge. The second is our ingenious mercantilism, as demonstrated by our penchant for turning everything from church raffles to mortgages into marketable securities to be chopped up, bundled and resold. Like the celebrity bonds backed by royalties and popularized by David Bowie during the 1990s, litigation finance represents the expansion of securitization into hitherto virgin territory.
Author: Edouard Chazal
Lunch with the FT: Ben Bernanke
Martin Wolf :
I ask him whether he is confident that the improvement in the resilience of the banks is adequate. “It’s a fool’s game to predict that everything is going to be fine, because either it is fine, in which case nobody remembers your prediction, or something happens, and then … ” They remember your prediction, I interject.
Bernanke continues: “My mentor, Dale Jorgenson [of Harvard], used to say — and Larry Summers used to say this, too — that, ‘If you never miss a plane, you’re spending too much time in airports.’ If you absolutely rule out any possibility of any kind of financial crisis, then probably you’re reducing risk too much, in terms of the growth and innovation in the economy.”
Marlon On Marlon… The Brando Tapes
Stevan Riley, the director of Listen To Me Marlon :
When Marlon was talking about acting, he’d say that your brain is your enemy. The first thing you must do is shut off your brain and just focus on feeling. It was about accessing emotions from the past for the character, which according to the method would involve you delving into your own past as well. Then, once you’d accessed the character emotionally, you’d bring your brain back in and figure out all the character’s mannerisms. The small details about what they eat, whether they’ve got fluff on their jumper they pick off on a regular basis – just tiny details you could stack, stack, stack so that they were there in your subconscious mind and you could then ditch them when the director said “Action!”
China in Africa: A Modern Story of Colonization?
However China’s increased presence in East Africa has gradually raised concerns about the economic development of these countries as well as the environmental and social sustainability of their natural resources; what remains unclear is whether China’s recent FDI in East Africa has any real intention in helping to promote economic growth and development in these countries. In recent times, China has undertaken multiple investments in sub Saharan Africa that most people believe is due to China’s search for natural resources to feed its industrial output. But it has not always been the case.
The Trouble With Financial Bubbles
Follow-up on macro-microprudential policies :
Industrial quantities of research, analysis, and debate have been devoted to the causes of the 2008 crisis and its consequences; so it seems odd that senior central bankers are still so sharply divided on the central issue of financial stability. All those days spent in secret conclave in Basel, drinking through the BIS’s legendary wine cellar, have apparently led to no consensus.
Abnormal Capitalist 