global financial system

Global financial system seems to be transformed... and I believe that's needed.

Looking back one or two decades, there were too many financial crisis happend, which means the system have not been well designed yet. We still don't know what's the best financial model, considering too many factors such as international politics, religious conflictions, and an appropriate balance between efficiency and equality.

There can be seen tons of critisizing IBs, some of which are emotional and incoherent. I interpret that those include a kind of scapegoating. It is too much easy to blame those who earned so much. But who bought the products of IBs, urged by their own greed? Who was responsible to regulate economic activities?

However, in my opinion, two ingredients in the present financial system are needed to corrected:
One is the possibility of controlling the stock price spectacularly by dominating a company's share.
The other is the fragile way of risk hedging showned as CDO, CDS, and so on.

On top of that, some experts insist the importance of "morality" and "long term view".
Those could also be the key words for the new system, though I cannot see any concret way to include those elements into the market rules.

The aftereffect of the Era of Excess will confuses us for a long time.