hw#6 current events

A Baby Step Toward Rules On Bank Risk by:FLOYD NORRIS

9/16/10    www.nytimes.com  link to article

the topic is about how the banks were not organized and how the financial crisis came about.how things where fine and people agreed then they changed there mind. quick summary of topic its talking bout High & Low Finance

how the more  regulation will damage the economy but then at one point it says if the regulation could keep up with the  financial innovations there shouldn't be a crisis anymore. how the British said what they are going to do if taxed heavily.  also how British banks had to move there headquarters to another country.how the financial crisis has to part one was the moving of headquarters the other one was that the regulation  system was being activity in to a  shadow banking system. that's how the high and low financial crisis was caused by moving from place to place.

i picked this article because it bout money crisis and i wanted to understand how the ressation start or came about and what can we do to fix it.

it connects because it show how they agreed to on thing at the time then changed there mind . in the unit were doing the church said that how the sun was earth was the center of the universe while Nicolaus Copernicus sad it was the sun that the center of the universe  at the time church believed it but then they turned the theory down