‘Black Swan’ Author Sees Trouble Exceeding 1930s - DealBook Blog - NYTimes.com

‘Black Swan’ Author Sees Trouble Exceeding 1930s - DealBook Blog - NYTimes.com: "The author of “The Black Swan,” Nassim Nicholas Taleb, predicts that the global financial crisis will be harder to end than the Great Depression and it may force the United States government to nationalize some banks.

The world has a much more complex financial system than in the 1930s, Mr. Taleb told Bloomberg Television, and that makes the current problems worse. Bonuses paid on Wall Street encouraged risk-taking with no regard for losses, he added."