bankingtedx (presentation) (1) (presentation).pdf · 1792 1825 1837 south sea bubble panic of 1792...
TRANSCRIPT
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Banking 2.NO!Why Learning From The Past Is
Important For Our Future
Owen Sims // TEDxCQ
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“What are mankind’sgreatest inventions?”
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United Kingdom(2,014 AD)
Mesopotamia(5,000 BC)
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“Those who do notlearn from history
are doomed torepeat it.”
Edmund Burke
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Subprime Crisis2007/08
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18371792 1825
South Sea Bubble Panic of 1792 Latin American Crisis The Cotton Crisis
1720Railway Mania The Long Depression
1857 1873
Bankers’ Panic
1907 1929
Great Depression
Asian Crisis
19971973/74
Oil Crisis Dotcom Crash
20011987
Black Monday
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0
17.5
35
52.5
701825
1930
1792 2012
1857
2007
#BankFailures
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0
17.5
35
52.5
701825
1857
19302007
1792 2012
#BankFailures
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1825 1837 1847
Latin America Crisis
The CottonCrisis
RailroadCrises
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1857: HyperConnected World
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Characteristics of 1857
(A) Bank-run
(C) Financial Innovation(D) New technologies
(B) Low interest rates
(E) Insufficient Regulation
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(A) Bank-run
(C) Financial Innovation(D) New technologies
(B) Low interest rates
(E) Insufficient Regulation
Characteristics of 2007
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A Cause of Crises
‘Banks are prone to instability whenever shareholders do not face much risk because their liability is limited and their paid-up capital is
low relative to deposits. When this is so, management will engage in risk-shifting. They will lend excessively.
They will gamble in riskier ventures.’
John Turner, “Banking in Crisis”, 2014
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Ideas worth sharing
Stringent regulation.
Adequate incentives.
Our history is our greatest resource