Lior nicely covered the Asian Contagion from a forex point of view. I'll focus mostly on the economy and the stock market.
About a month ago, in the midst of the most extreme stock market volatility, Ken Fisher (founder of Fisher Investments) gave a highly memorable interview to CNBC, in which Fisher said today's markets are "in so many ways reminiscent of the 1997 correction."
Fisher proceeded to elaborate on comparisons between 1997 and today, qualifying his remarks by citing the same adage Lior used about history never repeating, but often rhyming. Here, I quote Fisher's litany of similarities today's correction shares with 1997's: Continue reading "More About 2015 Rhyming With 1997"→
In his 2010 book, Bye Bye Banks, 50-year industry veteran Robert H. Smith outlines the obstacles and issues facing the bank industry today.
Smith points out that it is the small banks that are disappearing from the financial landscape either via failure or merger, and sees a long list of obstacles. These obstacles include the Federal government, which sees banks “as their vehicle to engineer society, thereby satisfying their political and social expectations.” Smith addresses the competitive and regulatory environment that is practically forces banks to see merger partners and become larger.