Decades before anybody had ever heard of a
mortgage derivative, an
economist named Melchior Palyi predicted key causes of the 2008-2009
financialcrisis with
precision that makes a modern reader's hair stand on end.
几十年前,在还没有人知道抵押贷款衍生品为何物的时候,一位名叫梅尔基奥尔•帕尔伊(Melchior Palyi)的经济学家就预言了2008-2009年间金融危机的主要原因,而且其预测的准确程度让现代人不禁感到悚然。
His
warnings help explain why
investors insist on
trusting market gatekeepers they know to be fallible