Douglas D Anderson is a native of Athens, Ga., graduating from his hometown school, the University of Georgia, in 1965 with a BA in economics. He received his MBA in finance and international business from Georgia State University in 1973. After two years as a U.S. Army officer in Germany, he joined the Federal Reserve Bank of Atlanta in 1967, where he participated in landmark payments system research, the Atlanta Payments Project. Subsequently he installed and managed the second Automated Clearing House (ACH) in the U.S at the Atlanta Fed. After two years at the American Bankers Association in DC, where he was instrumental in the formation of the National Automated Clearing House Association (NACHA), he joined the Philadelphia National Bank (later CoreStates Financial, now part of Wells Fargo) in 1976. There he led a major bank study that resulted in the creation of the Money Access Service (MAC), which became the largest and most successful of the regional electronic banking networks of that era. He managed MAC until 1992 through its growth and transformation into Electronic Payments System, Inc. (EPS), a consortium venture owned by CoreStates and 3 other major regional banks; Anderson was EPS’s first CEO. EPS was sold to Concord EFS, Inc. in 1999 and became part of First Data Corp via a transaction in 2004. Mr. Anderson left EPS in 1994 and, with a colleague, formed Card Alert Services, Inc. a company that still provides valuable card fraud detection and control services for the banking industry. That company was sold in 2000 to HNC Software, which later became part of Fair Isaac, Inc. Mr. Anderson completed his active career with a 5-year executive stint with Genpass, Inc. a Dallas electronic services processor, retiring in 2006. Mr. Anderson published numerous articles in his field during his 40-year career. He resides in Jacksonville, Florida, occupying himself with involvement in entrepreneurial ventures, research and writing, golf, reading, and travel.
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Joseph has been an analyst, investor, and student of economic theory; money and banking; and statistical methods for evaluating and implementing risk/reward trading algorithms since 1972. Joseph is also an occasional contributor to financial publications and his essays are frequently cited by other financial websites and publications.
Since the end of the Great Recession, Joseph came to recognize that traditional methodologies for forecasting economic growth and investment asset pricing are no longer of value, and a broader understanding of the post Glass Steagall, financially engineered world that has driven markets and economies since the turn of the century is required today.
He has a good grasp of Shadow Banking, High Frequency Trading, and Dark Pools, and their impact on today’s markets. He has also spent considerable time understanding the new global paradigm of central bank involvement in experimental policy designed to better control economies.
Joseph doesn’t subscribe to a specific school of theory on economics. Rather, his thinking is based on a combination of the Classical School, the Austrian School, and the Keynesian School. He even sees the writings of Karl Marx as particularly instructive.
Joseph is particularly fond of the following quote from Albert Einstein and sees his own work as driven by that same passionate curiosity that Einstein refers to:
“I have no special talents. I am only passionately curious.”
Coming in a close second in terms of favorite quotes that express his views, Joseph embraces Lord Acton’s views expressed here:
“The danger is not that a particular class is unfit to govern.
Every class is unfit to govern."