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
And equitably you know. Situations and before all members they victimize ation and the dreary decisions must be put behind. Us so as we all embrace a new ether was predicated on the supreme law of piety and naresh by an abiding sense of cumber a tree to all this must be a general recall be sure that design o p f zanu p f is a party of traditions and now has been served by successive generations who are bound together by shared ideal rules and value. Which must continue to reign supreme you know our nation he ends of in drag a near it generation conflict must be resolved through how more nies america meriting of Old Established players as they brace and welcome new new rules new ones through it well. Defined sense of hierarchy and succession. Indeed all the matters will be discussed and settled at the Forthcoming Congress within the framework of our clear roadmap that seeks to resolve once and for roll any all missions or contradictions that have affected our party negatively. Let congr
The black friday search makes him 100 billion man. Hello from sydney where it is past 9 a. M. This is daybreak australia. Asiasan hour away from opening markets. And 5 p. M. In new york on the sunday evening, i am betty lou. To the mallst out and the shopping district. What is going to move in the markets come monday is going to be some of those retail stocks. Lets pull up the shares quickly. Amazon inns in anticipation of good black friday weekend sales. Paul, black friday didnt come with it came with some glitches. Macys had some problems online and walmart saw some of their sales in their physical stores. That will be the focus on the monday trade. Paul i have seen some doubters adjusting black friday stick black friday sales may top five alien, which is a record, and there is still cyber monday to come. Seem toasia it doesnt be feeding through to futures here. Over new zealand we have already gotten looking kind of fat desk looking kind of flat. The future of australias looking kin
Anna very warm welcome everybody to our new headquarters in london. The confirmation of Jerome Powell there this week and u. S. Tax. On the risk radar, weve looked at the political story in the u. K. He pound down what can be done to enable progress to move on to the tray conversation . On the oil price, we are down by. 41 , but not high not far from the highs. Abouting coming to talk output cuts. And next the tea, what is xp t, its that coin. Rally of 17 . Of 40 in the past two weeks. Up 800 year to date. Is the cryptocurrencies going mainstream . Is it covers investors or fear of missing out . Manus breaking news. There is a new ceo at julian bear. Julius bar julius baer. Holder is the new ceo. The board of directors has appointed him with immediate effect. They look back at a very successful year. Strong operating momentum. He has been the chief risk officer. He was named deputy ceo in 2017. He has been a member of the executive since 1998. Not a shock at all. Lets talk about anothe