Felix Salmon's take on "the most important chart in the world right now": It wasn’t greed and...

|By:, SA News Editor
Felix Salmon's take on "the most important chart in the world right now": It wasn’t greed and speculation that sparked the financial crisis, but "an excess of overcaution" marked by a surge in demand for AAA-rated bonds - dangerous "precisely because they’re considered risk-free. They breed complacency and regulatory arbitrage" which lead to excessive leverage, "the cause of all big crises."