There are four reasons to worry that the latest banking crisis could be systemic. For many years, periodic bouts of quantitative easing have expanded bank balance sheets and stuffed them with more uninsured deposits, making the banks increasingly vulnerable to changes in monetary policy and financial conditions.
show how the US central bank's liquidity policies created the conditions for runs on uninsured deposits.
When a bank fails, the first response by policymakers and the public is to blame risk-loving speculators, greedy investors, or regulators asleep at the wheel. But quenching our thirst for moral adjudication is a poor basis for policy, because the truth is both simpler and more troubling.
argues that recent market turmoil has revealed that the sector’s main vulnerability is unavoidable.
布拉格—在打击虚假信息的战争中,敌人可能很难确定。记者、政治家、政府甚至祖父母均被指控助长了在线谎言的传播。
尽管上述群体均不完全无辜,但真正的对手却更加世俗。正如脸书举报者弗朗西斯·豪根去年下半年在其证词中所指出的那样,恰恰是社交媒体自身的算法才导致虚假信息无孔不入。
自2004年诞生以来,脸书已经从一家学生社交网站发展成为破坏全球社会凝聚力和民主的监控怪物。脸书搜集大量用户信息——其中也包括体重和怀孕状况等私密数据——用于绘制其用户的社交DNA状况。该公司而后将信息转售给想“精准定位”其 29亿用户的任何人——从香波制造企业到俄罗斯和中国的情报机构。通过这种方式,脸书允许第三方操纵思想并交易“人类未来”:开发预测模型,预测个人可能做出的选择。
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