Wednesday, 8 October 2008

Capitalism and what it can learn from Open Source

What a mess the world economy is in.

Banks are falling left, right and centre, and governments (i.e. tax payers) around the world are propping them up.
Part of the problem is the way that there is no working regulation of banks.

No-one has been keeping an eye on what they are up to... and how could they?
As I see it, banks do not exchange their trading information with governments, regulators, competitors, shareholders, or customers.

They are totally "closed-source". This has got to change.

Freedom of information legislation needs to be extended to these institutions, I can see no other way.

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