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Message Subject THE ECONOMY & YOU # (Daily Updated Videos & Articles)
Poster Handle RoXY
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Spiral of banks warns of financial meltdown
02 August 2012 by Andy Coghlan

Call it the financial meltdown forecaster. The team of economists who last year demonstrated that a small number of companies wield disproportional power over the global economy has now produced a simple visual tool that can monitor financial stability in real-time.

Like a weather forecast, DebtRank could monitor global financial activity for telltale signs of impending disaster. Its designers say it could anticipate and so help prevent global economic crises like the events of 2008, from which the world is still reeling.

Importantly, it's not just size that matters when it comes to how much risk a troubled bank poses to the financial system. Even a relatively small loss at a firm intimately connected to many other banks could cause a ripple effect that threatens the whole system.

CONTINUE: [link to www.newscientist.com]
 
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