A Quote by Anshu Jain
The shadow banking sector has played an important role in cleaning up toxic assets.
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Much of the shadow banking sector, a major contributor to the economic crisis, was also only possible because of taxhaven secrecy.
It's always been government's role to protect the security of the nation. And cyber-attacks is a security issue, from our perspective. And it's a security issue of particular concern with respect to the nation's core critical infrastructure, the infrastructure everyone relies on, the energy sector, the telecommunications sector, the banking sector.
When commercial banking opened up for the private sector, I set up the retail-banking division for ICICI and grew it substantially. I then ran the international side of the ICICI Bank for a few years.
If a lending institution is faced with bids for a package of toxic assets that are less than the carrying value of those assets, the sale of those assets would trigger a further loss and reduce the underlying capital of the institution.
Regulation is necessary, particularly in a sector, like the banking sector, which exposes countries and people to a risk.
Superfund was passed with the good intention of cleaning up America's toxic waste sites.
Superfund was passed with the good intention of cleaning up America's toxic waste sites
Rethinking capitalism means rethinking the role of the public sector, the role of the private sector, the role of finance, and the relationship between them all.
The great increase in longevity has produced a surge in the desire to accumulate assets for retirement. It has outpaced the ability of the private sector to produce assets, so we need a larger government debt.
You can't fall back on the private sector and say, 'You take care of the nation's banking system.' That's a fundamental function of the government, the Federal Reserve, the Treasury and the FDIC, etc. All of those agencies have a major role to play there.
Tourism is a very very important sector for us. Hospitality is an important sector for us. Civil Aviation is an important sector for us. In a country like India where they contribute to the GDP, not only GDP but millions of jobs have been provided through these sectors.
In various countries around the world, assets that had previously been in the hands of governments were sold off to the private sector in the hope that this would lead to a more efficient allocation, that these assets would be put to better use.
Local airports serve an important role as economic and public safety assets for communities across the state.
The whole banking sector in Mexico was literally bankrupt. For whatever reason, instead of intervening in the sector or supporting the banks, the government expropriated them. We went through the very laborious period of selling the failing banks to the wealthy people of Mexico.
Governments have always played an important role in energy investment, but this role has been increasing due to both geography and technology.
EPA's role is even broader than water infrastructure and cleaning up contaminated land - the agency also has a key role in allowing projects to move forward by reviewing environmental impact statements during the permitting process.
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