Nuclear Finance?

Check out this interesting piece by Financial Times columnist Tim Harford that draws a parallel between nuclear power plants and the financial system. The main thesis of the article:

A series of measures intended to guarantee the safety of individual financial institutions had brought the system to its knees.

And more...

[T]he safety system introduced what an engineer would call a new “failure mode” – in other words, a new way for things to go wrong. And that was precisely the problem in the financial crisis.

I hope that Fed Chairman Ben Bernanke reads this unique perspective on the financial meltdown and the inevitable future crises to come.