Word: banking
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...first is closely related to a philosophical idea popularized by Soros himself: reflexivity. Originally developed as a sociological concept, reflexivity incorporates the essential feedback loop between cause and effect into analysis. This is best illustrated through self-fulfilling prophecies; think about a bank run à la Northern Rock: If rumors abound about a bank being illiquid, depositors will self-fulfill the prophecy by queuing to clear their accounts. There is a ‘tipping point’ for bubbles or bursts alike, which explains where market performance is anything but normally distributed. As Nassim Taleb made a career...
...faced several challenges along the way, including identifying a bank that would be willing to install an ATM and undergoing a security review by the administration and the Harvard University Police Department to ensure the safety of putting an ATM in the Quad...
...They are interested in trying to rehabilitate themselves,” said Fried, noting that the organization has suffered criticism for its handling of the Madoff fraud and the Bank of America litigations. “They have to show that they can shoot straight and that they have a role to play...
Current policies include the requirement that public spending not exceed 30 percent of gross domestic product and that new taxes be approved by a referendum. Saakashvili also noted that Georgia is ranked 11th in the world by the World Bank for ease of doing business...
Additionally, the World Bank has emphasized that “social norms transformation is the key to fighting petty corruption.” To really change the way the system works, countries need to change the attitude that corruption is an expected feature of interaction with government. And as a recent Boston Globe story notes, game theory models have shown that it only takes a few actors demanding honesty to fundamentally change a corrupt system...