Cambridge Cluster

Image by Francisco Antunes via FlickrBanker Philip Kay has given a lecture at his Oxford on the credit crunch that hit the Romans.

“The essential similarity between what happened 21 centuries ago and what is happening in today’s UK economy is that a massive increase in monetary liquidity culminated with problems in another country causing a credit crisis at home. In both cases distance and over-optimism obscured the risk,” said Kay, a supernumerary fellow at Wolfson College.”

But unfortunately he has not found out the medecine which they had to take but there is a lot of talk about wars.