By Simon Johnson, James Kwak
Despite its key position in developing the ruinous monetary difficulty of 2008, the yank banking has grown greater, extra ecocnomic, and extra proof against legislation than ever. Anchored via six megabanks whose resources quantity to greater than 60 percentage of the country’s gross household product, this oligarchy proved it can first carry the worldwide economic system hostage after which use its political muscle to struggle off significant reform. 13 Bankers brilliantly charts the increase to strength of the monetary area and forcefully argues that we needs to get a divorce the large banks if we wish to stay away from destiny monetary catastrophes.
Updated, with new research of the government’s contemporary try to reform the banking undefined, this can be a well timed and specialist account of our stricken political economic system.
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Extra resources for 13 Bankers: The Wall Street Takeover and the Next Financial Meltdown
The price decline in computer technology has been spectacular over the past 20 years. A computer system with 2 gigabytes of memory (RAM), 300 gigabytes of 21 hard drive space, and a 2-gigahertz processor cost several million dollars in 1995, and was big enough to require its own room. In 2012, a computer with identical specifications not only fits in a standard desktop case, it can also be found for as little as $400 in any neighborhood Best Buy or other computer store. The decline in the cost of computing can be largely traced to the efficiency of scale in production of computer chips overseas.
2 Architecture of a Sample Multicore cPU Source: Thomas, Howes and luk (2009) RAM ... 3 Architecture of a Sample GPU Source: Thomas, Howes and luk (2009) DDR bank DDR bank 23 TEcHnOlOGIcAl InnOvATIOnS, SySTEMS, AnD HFT latency, however, care should be taken to ensure that the threads of the process are similar in terms of the number of loops and conditional exits. In other words, programming expertise is required to ensure that GPUs are deployed with maximum efficiency. 3 illustrates sample architecture of the GPU.
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