Andrew Haldane is becoming a big hit for ME. His speeches not just carry great insights but is full of humors as well (see his previous speeches here and here).
The title of the post is the title of his recent speech. He points to seven lessons:
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Finance is no golden goose
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Unless the golden goose is geared
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Size does matter
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Banks cannot “pass” a stress test
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The plumbing worked
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But some plumbing was missing
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Banks’ profits were the problem – but are now the solution
Read the speech for more details. It has great insights on UK’s financial sector as well.
