What have we learned . Philipp well, we have learned that we had too much leverage in the system without any doubt. And that when you have leverage, bad things happen. Not only do they happen, but when they happen, the effects tend to be amplified. So i think that is the key take away from it all. I think we have also learned that this notion of kind of letting the market be totally free, that governments really should get out of the way, that wasnt a very good idea. I think what stands out is banks needed much, much more capital than they had at the time. We had capital levels that were excessively low. I mean, in some cases, these banks, they were, these banks were leveraged nearly 100 times. Free, that governments really should get out of the way, that wasnt a very good idea. I think what stands out is banks and that, to me, has always been the key takeaway. In fact, in some ways i wish we had focused more on the capital issue and less on all the many other things that have kind of
We have been in normal sample to be throughout my time on the Armed Services committee. They know pretty much everything is good at some of his nose of the things we can ask questions and learn and its a very, very complicated world. It is noble and unsettling the first time about how long ive been for group of people that we actually the budget deal. Normally that is what dominates all my thoughts. The only caveat i will throw out is have that money for two years. Eventually you do get a debt and deficit that are so high that you put in a very, very bad place. And that is going to happen. I cant say when exactly but when that happens all aspects of government and the military will not be excluded black to figure out how do we live with a lot less money than we thought we were going to have. I think that is one of the most important conversations that we should be having, that the pentagon and the government level is how can we make the most of this to your gift that we been given, and
Francine a decade after the last financial crisis, and some are predicting the next one is looming. In 2008, the biggest concern was that banks were too big to fail. Governments felt they had no choice but to prop them up or risk major meltdown. Jump to 2010 and enter Philipp Hildebrand, former economist, Hedge Fund Manager, and central banker, he was ready to take on the lenders strongly advocating stricter capital requirements. Today on leaders with lacqua, we meet one of the most recognized names in swiss banking. He is now vicechairman at blackrock, the worlds biggest money manager, which handles more than 5 trillion in assets. So we are 10 years on from the financial crisis. What have we learned . Philipp well, we have learned that we had too much leverage in the system without any doubt. And that when you have leverage, bad things happen. Not only do they happen, but when they happen, the effects tend to be amplified. So i think that is the key take away from it all. I think we h
Washington state who shared his perspective as the top democrat on the House Armed Services committee, hosted by the center for strategic and international studies. Its just over 2 1 2 hours. Security experts and leaders from the ngo and Civil Society communities were consulted for this project. We want thoonk all of them for their insights and perspectives. The project was made possible by generous support of the open Society Foundations and open Society Policy center. Todays keynote address will be delivered by representative adam smith who is going to give us perspective from capitol hill. Representative smith is washington states 9th District Representative and serves as Ranking Member on the u. S. House Armed Services committee. He graduated from Fordham University with a bachelor degree in Political Science and jd from the university of Washington School of law. During his last year in law school, representative smith ran and won an election for washingtons 33rd district, becomin
Democracy and human rights i mean when needed was founded greece was a military dictatorship and turkey was a military dictatorship they did not impede the nato membership so i think on the whole things will go on as usual just the only thing that we actually care is that this does not get out of this can always happen. Over to the u. S. Now where the crime ridden city of baltimore has called for a cease fire this weekend in an attempt to me its skyrocketing murder rates last year saw a record three hundred forty three homicides in the city thats the spike its population shrinking the increase in violence has been linked to severe inequality the prevalence of illegal firearms and an Opioid Epidemic so we record has more now on the initiative. This weekend activists are calling for a seventy two hour cease fire asking for a weekend without any violence whatsoever this is the third event of its kind in the last six months but these cease fire weekends began in august when baltimores homi