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Uninvited Guest To The Party

In: FINANCE MASTERS A Brief History of International Financial Centers in the Last Millennium

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  • OLIVIER COISPEAU

Abstract

Some may object to mentioning uninvited guests to the party. It would be a momentary lapse of reason to forget that from John Law to John Maynard Keynes, the longstanding relationships between finance and gambling have been ambiguous and dangerous liaisons, often at the expense of their unfortunate victims. The three devils of finance may well be greed, gambling and finally cheating, and as history has shown it never took long for them to follow the money. In this context, rating certainly acquired a pivotal role in better assessing financial risk.

Suggested Citation

  • Olivier Coispeau, 2016. "Uninvited Guest To The Party," World Scientific Book Chapters, in: FINANCE MASTERS A Brief History of International Financial Centers in the Last Millennium, chapter 6, pages 245-293, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789813108837_0006
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