The Big Mo: Snowballing impact
In an interconnected world, everything gets magnified
“Welcome to the new world in which momentum is the driving force behind everything,” declares Mark Roeder on the back of his book. The 2008 recession appeared as a bolt from the blue. Was that really the case? Roeder, who was the global head of advertising of the UBS, disagrees and says that even though there were clear indications that many borrowers were defaulting, financial experts simply chose to ignore the warnings. Institutions aggressively competed to become more involved in the game and then, one day, lightning struck.
Roeder uses a ...
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