First a general comment: I´ve read almost all of your essays in two go´s, do I have to say I love them. Only dabble in software, studying financial systems originally. Curiously, I found mathematicians and now computer scientists are the best non-fiction writers, at least they work best for me, whatever they talk about it´s logical and beautiful and well-structured. (I struggled for a long time with the pompous bullshitting of "economists" and "business administrators".) Came here via ESR, whose book on Unix history and essays I also loved. Reconnecting to my past. Thanks!
Regarding the topic of this essay, I think we can expect a lot of change in the financial industry. It is ripe for dissolution into smaller, more networked and fluid units. Also thinking about your essay on credentials here. Madoff is only most visible spearpost, it´s a general problem of delegated decision-making with so many conflicts of interest and such high noise to information. After all, finance and investments is all about information and capital is expressed in numbers. The industry has arrived at a critical point, your writings are highly pertinent for people in it.
Regarding the topic of this essay, I think we can expect a lot of change in the financial industry. It is ripe for dissolution into smaller, more networked and fluid units. Also thinking about your essay on credentials here. Madoff is only most visible spearpost, it´s a general problem of delegated decision-making with so many conflicts of interest and such high noise to information. After all, finance and investments is all about information and capital is expressed in numbers. The industry has arrived at a critical point, your writings are highly pertinent for people in it.