A short post just to mention that I have continued my on-going discussion on the global financial crisis in a post on my personal blog, Saturday Morning Musings - finance 101 and the global financial crisis. My end point in that post was:
To my mind, we should consider putting a bullet through the entire current corporate control and reporting system. It does not and cannot work. Instead, we should focus on what we really want to achieve.
The problem we have at the moment is that we fix things by changes at the margin when we should in fact be replacing the whole system. The last sentence, focusing on what we want to achieve is, to my mind, critical.