A Quote by Jeremy Siegel
The current financial crisis calls out for new products and services as well as more, not less, information about what is safe and profitable in the future environment.
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Every mutation through a new combination of genetic factors that provides the organism with a new opportunity for coming to terms with the conditions of its environment signifies no more and no less than that new information about this environment has got into that organic system. Adaptation is essentially a cognitive process.
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.
That which today calls itself science gives us more and more information, and indigestible glut of information, and less and less understanding.
Anyone interested in the past, present, or future of banking and financial crises should read The Bankers' New Clothes. Admati and Hellwig provide a forceful and accessible analysis of the recent financial crisis and offer proposals to prevent future financial failures. While controversial, these proposals--whether you agree or disagree with them--will force you to think through the problems and solutions.
... if you know a person really well, the truth is you can't guess how they'll act in an altogether new sort of crisis. ... intimacy creates a special environment for two people, and the deeper the intimacy, the more they both live within it, the closer its boundaries usually are, so that all that lies beyond them becomes with time not less but more and more of a mystery.
As with products on supermarket shelves, the public has a right to know where their financial products and services come from.
So to the best we can, what we do is focus on creating value for others, and how do we do that? We do it by trying to produce products and services that our customers will value more than their alternatives, and not just their alternatives today, but what the alternatives will be in the future. We try to more efficiently use resources than our competitors, and constantly improve in that, and we try to do the best job we can in creating a safe environment, and environmental excellence, and constantly improve at that.
We will talk to the CIFAS members, financial institutions, about the possibility of closing accounts of people who have no right to be here. If you're going to create a hostile environment for illegal migrants... access to financial services is part of that.
By any measure, CapitalSource outperformed both our direct competitors and the financial services industry in general, particularly in the context of the near collapse of the financial services industry where 19 of the 20 largest financial institutions in the country either failed or were bailed out by the government.
The current financial crisis makes it very clears that the system that we have isn't really working, and this is the right time for us to undo things and build them in a new way.
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.
I think we're more relevant than ever because it is such a noisy environment out there. What's a journalist now? It's anybody with a way to get information out and you're sitting there with your smartphone in front of you. That's what we're up against now. There's a lot of unfiltered information. Some of it is accurate, some of it way off base. We're that safe port in the storm.
By rescuing the financial system without reforming it, Washington has done nothing to protect us from a new crisis, and, in fact, has made another crisis more likely.
Online business models are still evolving. New and different products and services pop up every day. This gives rise to supporting products and services. A business can make substantial profit by helping others execute their plans for making money.
There's a lot of health information available on your smart phone. There's financial information. There's your conversations, there's business secrets. There's an enormous long list of things that there's probably more information about you on here than exists in your home, right. Which makes it a lot more valuable to all the bad guys out there.
There has been a banking crisis, a financial crisis, an economic crisis, a social crisis, a geostrategic crisis and an environmental crisis. That's considerable in a country that's used to being protected.
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