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THE HEDGE-FUND FIASCO: BLAME IT ON GREED (int'l edition)In ''How to reshape the world financial system'' (Special Report, Oct. 12), you suggest two solutions. The first is for government to put up artificial barriers to free capital. The second is to extend America's concept of bankruptcy to the world stage. You conclude that, in the future, investors will have to demand extra interest to compensate for the extra risk. You miss an important point. This meltdown happened because of the greed of speculators looking for unsustainable, high rates of return. Until we evolve human nature to the point where enough becomes better than more and start using money to do what is right and accept a reasonable rate of return, no institutions will work.
Joseph C. Gurin
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Updated Nov. 12, 1998 by bwwebmaster
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