A Laboratory of the Future Human Experience
The financial crisis has put a spotlight on the obscure world of credit default swaps – which trade in a vast, unregulated market that most people haven’t heard of and even fewer understand. Will this be the next disaster?
Roger Cohen: World leaders converge on a battered New York this week for the United Nations General Assembly and my advice to them is: think Damien Hirst.
It’s not that I expect them to dwell on the British artist’s giant tanks of dead sharks and piglets at a time when the U.S. economy is being socialized to the tune of $700 billion ($2,000 for every man, woman and child in the country) as a result of a giant mortgage-related Ponzi scheme.