Stream Your Event | Partners | Speakers CART ITEMS: - | CHECKOUT

Nouriel Roubini: A Crash Course in the Future of Finance

Watch Full Video | previews

Sixth and I Historic Synagogue

Info
Bio
Chapters
Preview
Download
Zoom In

Nouriel Roubini: Time to Close the Financial Supermarkets

04 min 48 sec

Add to Profile

Nouriel Roubini, author of Crisis Economics: A Crash Course in the Future of Finance, calls the financial regulation reform bill in Congress a step in the right direction, but says it doesn't go far enough.

He argues that the economic crisis has actually made banks "too bigger to fail."
Roubini Advocates Clawbacks, Restructured Incentive Plans

02 min 18 sec

Add to Profile

Economist Nouriel Roubini argues that in addition to financial regulation, fixing the economy will require changing compensation structures for bankers and traders.

He suggests that those in the banking industry should be compensated based on long-term performance to discourage risky lending practices.
Watch Full Program

58 min 11 sec

Add to Profile

There are 5 comments on this program

Please or register to post a comment.

Previous FORAtv comments:

wealthychef

Posted: 05.18.11, 09:35 AM

I have one link for your consideration regarding Mr. Roubini's accuracy: http://www.erictyson.com/articles/20081024_1

phiscal

Posted: 10.06.10, 02:02 PM

The FDIC is one source of the moral hazard in the financial system. Certainly it contributed to the complacency that led to the crisis. At the moment, many people think FDIC's benefits in dampening bank runs outweigh its costs of increasing the taxpayers exposure to moral hazard, but that opinion may change as this economic episode is viewed from greater distance in the future.

Robijn Hornstra

Posted: 06.02.10, 02:30 PM

While I agree with a lot of what Mr. Roubini says, I do think his solutions are not sufficiently radical. Banks provide services to society. Some services such as money transfers, deposits, and loans have utility like characteristics. If we want to participate in society we have to make use of those services. Furthermore, and Mr. Roubini talks to this somewhat, credit is crucial for economic growth and/or recovery. Today the banking system has tightened credit resulting from the 2008-2009 mess. And that precisely when we need credit the most. That is why I advocate for a bifurcated banking system where Utility Banks are economically and legally separated from Diversified Banks. So we should not just break up those institutions that are too big to fail or too complex to regulate, but we should also have a two tiered system. Robijn Hornstra cleanbanks.com

Fora2

Posted: 06.02.10, 07:28 AM

The 2008 meltdown could have been totally prevented, but in 1998 Fed Chairman Alan Greenspan, Treasury Secretary Robert Rubin, and lacky Larry Summers conspired to prevent proper regulation of Wall Street, banks, and the derivative market. Brooksley Born, head of the CFTC, Commodity Futures Trading Commission, specifically WARNED of the coming disaster and tried to impose regulations but was stopped by the three stooges. See the new explosive expose’ online: PBS Frontline: THE WARNING. "We didn't truly know the dangers of the market, because it was a dark market," says Brooksley Born, the head of the CFTC, Commodity Futures Trading Commission, who not only warned of the potential for economic meltdown in the late 1990s, but also tried to convince the country's key economic powerbrokers to take actions that could have helped avert the crisis. "They were totally opposed to it," Born says. "That puzzled me. What was it that was in this market that had to be hidden?" - Frontline

Fora2

Posted: 06.02.10, 07:23 AM

LOL!!! From Time Magazine June, 1933: "Through the great banking houses of Manhattan last week ran wild-eyed alarm. Big bankers stared at one another in anger and astonishment. A bill just passed … would rivet upon their institutions what they considered a monstrous system… Such a system, they felt, would not only rob them of their pride of profession but would reduce all U.S. banking to its lowest level." The system that caused so much concern & consternation? The FDIC