Word: streets
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Dates: during 2010-2019
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...argued that Apple was screwing over developers in the spring of 2007. To argue in good faith that Jobs and Apple are not committed to user-created media is to ignore the entire first wave of Jobs' reinvention of Apple: the iPod may have turned Apple into a Wall Street icon, but it was the iMac and the whole iLife digital-hub positioning that brought the company back from the dead. During the iPad keynote, four of the most impressive (and in-depth) demos were content-creation apps: Brushes and the iWork trio. There is no doubt in my mind...
...largest firms that survived the crisis. Could one argue that financial firms need to get bigger, not smaller? There is no evidence that large, multiplatform banks are more efficient or able to sustain risk than smaller banks. When I was on Wall Street, we used to have at least 20 firms that competed in the market. My book is the story of how Wall Street started as a group of small firms, and how those firms maneuvered to survive and prosper, but in the process, most either failed or were swallowed up by others. The net result has been...
...Smith, a finance professor at New York University and a former Goldman Sachs partner, argues in Paper Fortunes, his new history of Wall Street, that decades of financial innovation that seemed like positive evolutions at the time have turned our markets into scary places. In part, Smith says Wall Street is fixing its problems by reining in pay and lowering leverage ratios. But he believes Washington and regulators still need to intervene to make financial markets safer...
...just completed an 80-year history of Wall Street. What did you learn? There is now about $140 trillion in market capitalization in the word's financial markets looking for investments. That money can now move around very easily. But even if a relatively small portion of that money goes after something - say, mortgages - it can quickly cause a bubble and a crisis. So all this good work we have done in the past few years to make our capital markets more efficient and open has also made them very hazardous, and we haven't done anything yet to address...
...Wall Street also seems unhappy about a fee for being big. Financial executives don't like the idea of having to pay a too-big-to-fail tax, but nonetheless I think they get it. Banks pay for deposit insurance - this just extends the idea to the rest of the bank's liabilities, which get covered by implicit too-big-to-fail guarantees. What a lot of firms don't like is the idea of having to pay a financial-crisis-responsibility fee for the next decade, as Obama has proposed to recoup TARP loans to AIG, the auto industry...