Markets Are in Crisis, Not the Financial System
A trader reacts as he looks at financial data on computer screens on the trading floor at ETX Capital, a broker of contracts-for-difference, in London, U.K. on Friday, Oct. 14, 2016. It’s been a tumultuous two weeks for the pound, and all indications are that traders will have to get used to the volatility. (Photographer: Luke MacGregor/Bloomberg)

Markets Are in Crisis, Not the Financial System

(Bloomberg Opinion) -- Financial-market volatility is painful. From mom-and-pop investors suddenly seeing red in their 401(k) plans to large institutions scrambling to hedge their gigantic portfoli...
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