In 1999 I wrote: “The possible Big Bang that scares me the most is the one that could happen the day those genius bank regulators in Basel, playing Gods, manage to introduce a systemic error in the financial system, which will cause the collapse of the OWB (the only bank in the world) or of the financial dinosaur that survives at that moment. Currently market forces favors the larger the entity is, be it banks, law firms, auditing firms, brokers, etc. Perhaps one of the things that the authorities could do, in order to diversify risks, is to create a tax on size.”

In January 2003 the Financial Times publish a letter I sent them and that concluded in “Everyone knows that, sooner or later, the ratings issued by the credit agencies are just a new breed of systemic error to be propagated at modern speeds.”

And that is only but two examples. I also spoke frequently about this issue in the World Bank while an Executive Director 2002-2004, and have done my best to spread the truth in blogs and articles.

Indeed, like few, I have impeccable credentials for being allowed to explain the current financial crisis to all non-experts, dummies and financial regulators… so please! http://bit.ly/bniNuD