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By Richard Fernandez

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Why “too big to fail” means “wait for it”

December 3, 2011 - 4:28 pm - by Richard Fernandez
NukemHill
2011-12-06 10:45:08

IT did not in fact allow the elites to eliminate Black Swans. What it did was enable them to hatch very large ones.

While I agree with your overall premise and the thrust of the article, you are making an assertion with absolutely no proof to support it. There is no way of knowing one way or the other.

I would actually submit (again, without direct proof, but as a member of the IT community for a couple of decades) that we have been able to eliminate some Black Swans. Sometimes having enough information is sufficient. Even if it is not complete information, in the sense you are discussing.

I do, however, completely agree that the larger the “project”, the less likely we are to prevent Black Swans, and the more likely we are to actually exacerbate them. It gives a whole new meaning to the term “GIGO”.