A Quote by Ha-Joon Chang
If we are really serious about preventing another crisis like the 2008 meltdown, we should simply ban complex financial instruments unless they can be unambiguously shown to benefit society in the long run.
Related Quotes
If we are really serious about preventing another crisis like the 2008 meltdown we should simply ban complex financial instruments, unless they can be unambiguously shown to benefit society in the long run. This is what we do all the time with other products-drugs, cars, electrical products and many others.
The Death of Money is an engrossing account of the massive stresses accumulating in the global financial system, especially since the 2008 financial crisis. Jim Rickards is a natural teacher. Any serious student of financial crises and their root causes needs to read this book.
The financial crisis of 2008 created a seismic shift in the dynamics of trust in financial services. FinTech would have happened without the global financial crisis - but it would have taken much longer.
You can't look back at the worst financial crisis of our lifetimes that started in 2008 and not have some important lessons about the critical nature of oversights in financial markets and institutions.
The terms of the 2008 constitution [which ensures the military will continue to be the ultimate authority] could not benefit Burma in the long run. I think this constitution should be revised.
The heart of the 2008 financial crisis was a coterie of reckless financial executives, working for too-big-to-fail financial companies, who were handsomely compensated for taking risks that almost ruined the economy when they failed.
Many of us like to think of financial economics as a science, but complex events like the financial crisis suggest that this conceit may be more wishful thinking than reality.
Sometimes, the aftermath is more devastating than the storm. That is the story of the 2008 financial crisis. It was disastrous at the time, but what has been worse is how long it has lingered.
The financial crisis of 2008-09 was in large part the result of the so-called 'success' of people who did not understand their fiduciary duty. This kind of 'success' is extremely harmful to all of society.
The financial time frame always has been short-term. Projects with long-term paybacks are cut back, because CEOs and financial managers simply want to take their money and run. That is the financial mentality.
In response to the drop in wealth suffered as a consequence of the 2008 financial crisis, homeowners and firms did attempt to increase savings in financial assets by reducing expenditure on durables.
There was no blueprint or how-to manual for fixing a global financial meltdown, an auto crisis, two wars and a great recession, all at the same time.
Soon after the financial crisis of 2008, I was at a meeting in Washington with a group of U.S. senators. They had invited me to provide a point of view on new regulation; regulation aimed at ensuring we never have to go through the events of 2008 ever again.
There are downsides to implicitly trusting banks, as the 2008 financial crisis showed.
I believe that the financial crisis of 2008/9 exposed more a lack of ethics and morality - especially by the financial sector - rather than a problem of regulation or criminality. There were, of course, regulatory lessons to be learned, but at heart, there was a collective loss of our moral compass.
If 'Brexit' really is a political crisis, it should be treated as a political crisis - and not, despite all the market upheaval, a financial or economic one.
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