--- Doug Henwood <dhenwood at panix.com> wrote: > [Not
> of course, we have
> already seen some instances of systemic risk in
> recent times in the
> Asian financial crisis. But what sparked off the
> Asian financial
> crisis? Automated trading programmes!
This is certainly shite. It is well known by now that the Asian financial crisis was sparked off by the decision of a group of less than twenty identifiable individuals, to put their hedge funds together and have a go after the Thai baht and HK$. This is not a conspiracy theory (in the pejorative sense); it's a factual assertion that this one event was the result of one conspiracy, and it's true. The Asian financial crisis was not an accident; it was planned.
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