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Intermediation, Regulation, and Innovation Finance, Economics, and Financial Economics 17 November 2008
Are these things the same? ,[object Object],[object Object],[object Object],[object Object]
What It Takes to Survive in Investment Banking ,[object Object]
What It Takes to Survive in Investment Banking ,[object Object],[object Object]
What It Takes to Survive in Investment Banking ,[object Object],[object Object],[object Object]
The Role of Government ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Should G be a constant/ratio? ,[object Object],[object Object]
Median Voter Theory Made Simple ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Related side note
Process Responsive but Slow ,[object Object],[object Object]
And Turf Battles are Not New
Deregulation  ≠  Laissez-Faire ,[object Object],[object Object],[object Object],[object Object],[object Object]
Change is Incremental ,[object Object],[object Object]
Five Minutes on Finance ,[object Object],[object Object],[object Object],[object Object]
How Do (Did) IBs Make Money? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
The Difference ,[object Object],[object Object]
Barriers to Entry ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Establishing a Reputation ,[object Object],[object Object],[object Object]
Reputational Risk, German Style
Regulations Expand the Market ,[object Object],[object Object],[object Object]
Capital Availability ,[object Object],[object Object]
Why Then? ,[object Object],[object Object]
Did Floating Commissions lead to the Junk Bond Market? ,[object Object],[object Object],[object Object],[object Object],[object Object]
Mapping Finance Adages to Economics ,[object Object],[object Object],[object Object]
Mapping Economics to Finance ,[object Object],[object Object],[object Object]
Financial Product creation processes are Non-Rival ,[object Object],[object Object],[object Object]
Derivatives ,[object Object],[object Object],[object Object]
Developed from Business Needs ,[object Object],[object Object],[object Object],[object Object]
Built from Existing Products ,[object Object],[object Object],[object Object]
1-year Swap Rate Example
What if financial-equivalents are not treated the same?
“Regulatory Arbitrage” ,[object Object],[object Object]
Credit Default Swaps ,[object Object],[object Object],[object Object]
Is this the same as zero? ,[object Object],[object Object],[object Object],[object Object]
A historic example ,[object Object]
The Reagan Revolution`fx
Questions for Monetization ,[object Object],[object Object],[object Object],[object Object]

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