Life is amazingly unpredictable; any 22-year-old who thinks they know where they will be in 10 years, much less in 30, is simply lacking imagination.
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- Importantly, in the 1930s, in the Great Depression, the Federal Reserve, despite its mandate, was quite passive and, as a result, financial crisis became very severe, lasted essentially from 1929 to β¦ βΆ
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- With respect to their safety, derivatives, for the most part, are traded among very sophisticated financial institutions and individuals who have considerable incentive to understand them and to use β¦ βΆ
- I am confident that we will meet whatever challenges the future may bring.
- The impact on the broader economy and financial markets of the problems in the subprime markets seems likely to be contained. β¨ Explaining FinReg: Shadow bank runs, or the problem behind the problem. β¦ βΆ
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