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Market systems are capable of massive breakdowns that can result in long, devastating periods of high unemployment.
It is nevertheless obvious that there were massive breakdowns in our financial regulatory system.
Last year, court documents exposed potentially massive breakdowns of the mortgage industry.
These massive breakdowns by the best "risk management banker" in the business didn't stop Robert Rubin, Alan Greenspan, and others from insist that corporations' own internal risk operations could protect the economy from future disasters.
In contrast, Ebola has devastated Liberia and Sierra Leone in West Africa in large part because both countries only recently emerged from horrific civil wars and conflicts that resulted in massive breakdowns in their healthcare infrastructure.
Similar(55)
"I had a massive breakdown.
I had a massive breakdown and was put on a psychiatric ward.
"Sure, there's been a massive breakdown in the reserves' system, but it's not been tested this way over so long, probably ever.
What we have here is a massive breakdown of the internal controls that are supposed to protect customers and promote confidence in the industry.
"The changes that we are seeing now reflect once again a massive breakdown in governance and violation of trust at the top of the mutual fund industry".
Bishop was writing from bitter experience, since three years earlier, her great love, Lota Costellat de Macedo Soares, which whom she had lived for a blissful decade in Brazil, had committed suicide in New York, while another lover had endured a massive breakdown.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com