links for 2009-06-27

  • At its heart, Tett’s tale is a moral one. She believes that the history of the J.P. Morgan credit derivatives team shows that banking can be technically innovative while remaining responsible. Her readers may fear that the anthropologist has gone native, but I don’t think so. I have met a good number of the people she is writing about, and have studied many of the same events, and I largely share her judgment. In particular, J.P. Morgan’s decision not to set up a mortgage CDO assembly line has saved the bank from the catastrophic losses so many of its peers have suffered
  • People who don't trust their government (whether they live in the UK, the US or Iran) tend to not to have much trust in the networks that carry their communication. But just because they don't trust it doesn't mean they don't use it – in particular the ease of connecting to the people that matter often trumps the risk of perceived breaches to their privacy, security.