May 01, 2010

Financial Times is equally a promoter of “metaphysical presumptions”

Sir your ‘Faith in numbers” May 1 is truly odious in the way you arrogantly and ironically joke about religious beliefs while blithely ignoring how much you yourself have been helping to give credence to bank regulations that seem to be just the same or even more based on “metaphysical presumptions”.

Or what would you call having the capital requirements for our banks based on some opinions of the credit rating agencies and as arbitrarily weighted by the high priests of the Basel Committee? If that is not pure purposeless mumbo-jumbo or hocus-pocus, what is?