Hadoop Haters Gonna Hate

The Big Data space has been confusing. Investors looking to ride the ups and downs of this market need to develop high tolerance for contradictory messages. Take Hadoop for example. A few years ago, the technology was hailed as THE solution for all Big Data problems. Then, came the “IT resea…

Ten years after the crash, there’s barely suppressed civil war in Britain | Aditya Chakrabortty

The elite pretends it saved us from ruin. But while the rest of us endure austerity, the economic and business model that created the crash remains intact

All history now, isn’t it? The credit crisis that began in August 2007, the ensuing banking crash and global recession. One bumper episode from the long-ago past, when the iPhone was a newborn and Amy Winehouse still made records. Now done, dusted, reformed and resolved. Or so one assumes, from the official self-congratulation.

The European commission marks the 10th anniversary of the credit crisis by trumpeting: “Back to recovery thanks to decisive EU action.” Yes, the same clapped-out European establishment that has spent the last decade kicking a can down the road. The head of the derivatives industry body, ISDA, admits: “We sometimes forget to articulate the social value of what we do.” Indeed so: before the crash, bankers emailed each other about how the derivatives that they were paid so much to flog were “crap” and “vomit”.

Related: How the crash discredited the Anglo-US democratic model | Will Hutton

The economy tanked, Brown got booted out and Cameron pretended a banking catastrophe was a crisis of the public sector

Related: Philip Hammond and Liam Fox’s Brexit transition plan is a pipe dream | John Springford

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