Daily Archives: October 21, 2015

Where’s the Courage to Act on Banks?

BOOK REVIEW

The Courage to Act, Author: Ben Bernanke.
The Bankers’ New Clothes: What’s Wrong With Banking and What to Do About It, Authors: Anat R. Admati and Martin Hellwig.

By Anat R. Admati – After such a major trauma, we want to believe all is well again. But the reality in banking is different and stark.

As Joris Luyendijk, an author who conducted hundreds of interviews with finance professionals, recently concluded: “Seven years after the collapse of Lehman Brothers, it is often said that nothing was learned from the crash. This is too optimistic. The big banks have surely drawn a lesson from the crash and its aftermath: that there is very little they will not get away with.”

Policy makers will need courage of a different kind to stand up to the narrow interests of the financial industry and refocus the messy effort at regulatory reform. more> http://tinyurl.com/p84jhhf

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Introducing Government as a Platform

By Peter Williams, Jan Gravesen and Trinette Brownhill – We see increasingly well-established examples of GaaP (government as a platform) services in many parts of the world.

The notion has significantly influenced strategic thinking in the UK, Australia, Denmark, Canada and Singapore.

In particular, it has evolved in a deliberate way in the UK’s Government Data Services, building on the Blairite notion of “joined up government”; in Australia’s e-government strategy and its myGov program; and as a significant influencer in Singapore’s entire approach to building its “smarter nation” infrastructure. more> http://tinyurl.com/o7bwwq5

Bosch Rexroth: Put Mechatronics to Work in Overcoming Automation Complexity

By Elizabeth Montalbano – Mechatronics is increasingly becoming an important concept as its principles combine a number of disciplines and are integral to modern manufacturing and automation system building, including mechanical, electrical/electronic, and computer engineering.

Bosch Rexroth defines mechatronics as “the intelligent selection and integration of mechanical and electronic components to accomplish complex automated manufacturing tasks,” said Richard Vaughn, automation engineering supervisor for the mechatronics group at Bosch Rexroth.

“It’s also the engineering discipline guiding the design and creation of electromechanical solutions.” more> http://tinyurl.com/o76zwoq

One of the causes of the financial crisis is finally being tackled

By Allister Heath – Slowly but surely, a key weakness at the heart of the global economy is being tackled.

For years, countries including China and the oil-rich Middle East had been accumulating foreign exchange reserves, mostly in the form of US government bonds. This huge build-up pushed up bond prices and depressed yields over the past 15 years, contributing to the secular reduction in the cost of credit that began in the 1980s and fueling the boom of the late 2000s.

The global economy turned into a giant recycling device: Western nations bought commodities or Chinese goods; many of the dollars, euro and pounds handed over were then used to purchase Western assets; this flood of cash meant that the price of buying a future cash flow went up, and so the yields and long-term interest rates required to attract capital fell, seemingly permanently. more> http://tinyurl.com/oek5sdy

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