Vicechairman of blackrock, the worlds biggest money manager. It handles more than 5 trillion in assets. After the financial crisis, what have we learned . Philipp we have too much leverage in the system without any doubt. When you have too much leverage, bad things happen. Not only do they happen, but when they happen, things tend to be amplified. Thats the key thing. We have also learned that this notion of letting the market be totally free, that wasnt a good idea. What stands out is banks needed much more capital than they had at the time. We had capital levels that were excessively low. In some cases, these banks were leveraged nearly 100 times. That, to me, has always been the key takeaway. In some ways, i wish we had focused more on the capital issue, and less on all of the other things that have made it into the regulatory reform. Francine is there a concern now of regulating the financial crisis, and we may miss the next one . We might, there shouldnt be any illusions. Financia
Of blackrock, the worlds biggest money manager. It handles more than 5 trillion in assets. After the financial crisis, what have we learned . Philipp we have too much leverage in the system without any doubt. When you have too much leverage, bad things happen. Not only do they happen, but when they happen, things tend to be amplified. Thats the key thing. We have also learned that this notion of letting the market be totally free, that wasnt a good idea. What stands out is banks needed much more capital than they had at the time. We had capital levels that were excessively low. In some cases, these banks were leveraged nearly 100 times. That, to me, has always been the key takeaway. In some ways, i wish we had focused more on the capital issue, and less on all of the other things that have made it into the regulatory reform. Francine is there a concern now of regulating the financial crisis, and we may miss the next one . We might, there shouldnt be any illusions. Financial crises shou
We meet one of the most recognized names in swiss banking. We speak with the vicechairman of blackrock, the worlds biggest money manager. It handles more than 5 trillion in assets. After the financial crisis, what have we learned . Philipp we have too much leverage in the system without any doubt. When you have too much leverage, bad things happen. Not only do they happen, but when they happen, the effects tend to be amplified. Thats the key thing. We have also learned that this notion of letting the market be totally free, that governments should get out of their way that , wasnt a good idea. What stands out is banks needed much more capital than they had at the time. We had capital levels that were excessively low. In some cases, these banks were leveraged nearly 100 times. That, to me, has always been the key takeaway. In some ways, i wish we had focused more on the capital issue, and less on all of the other things that have made it into the regulatory reform. Francine is there a c
Mr. Pallone thank you, all, for being here today. I want to thank all of our participants at this joint energy and commerce and judiciary democratic forum. I want to thank our Judiciary Committee Ranking Member i call him chairman, mr. Conyers. I havent been in this position so i can refer to you as chairman but not myself. So thank you, chairman conyers, for joining us to examine the longterm impacts of repetitive brain traumatic and particular trauma associated with sports. I look forward to the dialogue. Every week this time of the year Football Players at all levels take the field and engage in a contact sport they enjoy playing but may be harmful to their health in the future. There are a lot of concerning questions that we will discuss today. At the very least athletes and their families need to know they are being informed about the health risk and the risks associated with Contact Sports are being mitigated to the greatest extent possible. With more and more research coming out
Mr. Pallone thank you, all, for being here today. I want to thank all of our participants at this joint energy and commerce and judiciary democratic forum. I want to thank our Judiciary Committee Ranking Member i call him chairman, mr. Conyers. I havent been in this position so i can refer to you as chairman but not myself. So thank you, chairman conyers, for joining us to examine the longterm impacts of repetitive brain traumatic and particular trauma associated with sports. I look forward to the dialogue. Every week this time of the year Football Players at all levels take the field and engage in a contact sport they enjoy playing but may be harmful to their health in the future. There are a lot of concerning questions that we will discuss today. At the very least athletes and their families need to know they are being informed about the health risk and the risks associated with Contact Sports are being mitigated to the greatest extent possible. With more and more research coming out