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Back several decades to find out what makes Banking Systems unstable. He concluded that the deciding factor is the level of political interference in the system. This last about one hour. Good afternoon, everyone. Welcome. Were going to start our program. Im david cowen, president of the museum of American Finance. Were joined today by chairman of the board and our friends from cspan are taping today. Our guest lecture is charles calomiris, professor Financial Institutions at the Columbia University business school. He also teaches at the school of international and public affairs. Charles received his ba in economics from Delhi University where he graduated magna cum laude and matriculated th ....
Things, i had that one thing. So for you maybe its five years. So im not saying its a good rule for everyone. But find that rule that you can follow for yourself and kind of stick to that and start with that. I think that bleeds over to other areas of life. And my favorite line from the book is actually you cant change the people around you, but you can change the people around you. [laughter] and so once i realized that most of my old relationships were relationships that were birthed out of proximity or convenience with history or geography. And once i realized that those people a lot of those people didnt share my similar values or beliefs. And some of them even play the victim role and i realized that victims become victimizers and i had to change a lot of the relationships in my life. I also had to reprioritize this. And so the people that are closest to you a close loved ones and usually count them on one hand or two if you are catholic. [laughter] so that is your closest relatio ....
Been exposed that the problem can be dealt with. The regulatory process can do the things it needs to do which isnt necessarily introduce one new regulation. You see what happens with a very wellmeaning regulation. I think the two things that people in congress who are concerned with this issue and regulators should always keep in mind is that everything should be in the direction of increasing transparency, genuine transparency not the radical transparency where people will know what is happening rather than digging through 800 documents. Actual transparency and two being very sensitive to the incentive system they are creating in the financial markets. People respond to incentives. That is the story of wall street and the various crises we have had. People are just answering the call of incentives and when the incentives are bad the behavior is bad. Host finally Michael Lewis i was a little confused by the last chapter. We need t ....
Financial crises are a feature, not a bug, of the US system businesstimes.com.sg - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businesstimes.com.sg Daily Mail and Mail on Sunday newspapers.