Belmont Club

By Richard Fernandez

Bio

Get Updates From Richard Fernandez
A Comment About

The circle closes

October 6, 2008 - 3:10 pm - by Richard Fernandez
slade
2008-10-06 18:59:50

If I had the proper background (and motivation), I would consider developing a thesis that the dominance of the services industry contributed to the development of the “structured investment vehicles.” In fact, it wouldn’t be that hard, given what we know to date.

At a very minimum the “fee for transaction” model that overtook the banking industry in the 1980′s was a contributing factor.