10. Financial System Challenges & Opportunities

[@rp3875]

I love this course. The readings are fantastic, the videos, questions....everything is so generous for anyone keen to learn. Thanks MIT for your generosity. Professor Gensler is simply superb!

[@arrowb3408]

Really 30% of paticipitation rate is the Prof minimum requirement? That was simple for me. Just this prof reminds my physiology prof pointed any kids by his magic wond finger while he was wondering in in 200 kids of auditorium. That felt like birds on the WIRE. HAHAHA 🤣🤣🤣 NEVER FORGET THIS DEVOTING PROF FOR MY WHOLE LIFE.

[@simonbrown9695]

completly agree dony you pay like 10000 of dollars for these type of courses normally

[@unnamedexodus3902]

I agree. This is how the future of education should be!

[@clintonspiteri2509]

Gensler is a great educator. True scholar and gentleman.

[@sunnygee3712]

Thank you MIT and Prof Gensler! What a unique learning experience from an insider of US financial system and a bunch of smart students.

[@trent797]

Great class. It makes me happy that the head of the SEC is so well versed in these modern topics.

[@bariswheel]

He’s not the chair yet though. SEC commissioner

[@sladeprendergast1167]

More of the same people from greed and bubbles of 80-00s staying in charge

[@kalyanasundaramsanganore189]

I Am from Coimbatore India I Am following Crypto market from 2009 I like these classes on Block Chain Learning a lot at the age of 75 Super teaching on this modern system Hope this technology is going to rule the world market

[@campusseoul]

I am glad Gary Gensler included his perspective on the 2008 financial crisis.

[@algoriticus]

This lecture is very heavy on the history of finance and accounting for risk. The terminologies used for learning are, in typical MIT fashion, vocabulary expanding, concept driven, spectacular! I know I came for crypto, still learned a lot. Very impressive stuff. An hour well spent.

[@rafaelcuadras2102]

Everytime Gary says, "thanks for coming back", I look at the views go down for all of us are still watching on KZbin. Makes me feel like I'm actually there hahaha

[@JohnyG14]

Same! 25k gang as of 3/15/2021

[@GKmabusela04]

How can I apply?

[@mzar62458]

@@JohnyG14 54k as of 4/11/2021

[@scorchedloki2]

same 😂

[@127.]

@@mzar62458 81K as of 1/7/2021

[@kurkinet55]

Professor Gensler is absolutely superb! I know a bit about blockchain but still learned a lot! Thank you MIT for making this available to all of us.

[@gonzalogarcia-atance5840]

It is great to be able to have such an insight of what MIT education is.

[@O4LA2]

It's funny to see the views as the day increases. First day of class had 5,000,000 views and this one is only at 125,000 right now. If you made it this far, keep going! This is FREE money! Big shoutout to MIT and Professor Gensler. This is the future. Get on the boat!

[@tomcads1604]

The part about liquidity risk (around 01:00:00) perfectly sums up the recent stable coin trouble

[@back2d_lobby]

The Gensler is smart af. Provided he isn't a massive nerd about it, hes the right guy to head up SEC / regulate cypto. Half the population IQ

[@berajpatel8081]

wonderful point made about the history of usa gdp to us debt, peaks during the 1929 great drepression and 2008 housing crisis.

[@sladeprendergast1167]

Part from debt part from deceleration of GDP

[@simonexsala]

1:03:00 "I wish you all have such a rich career that you don't have a list like this of crisis from the top of your head". Not even two years later we had covid lol

[@officewuguatm9364]

Credit is basically borrowing something of value, importantly, with an agreement to give it back later. So precise that even a kid can understand.

[@outlaw2334]

That’s finance

[@anacabrita4579]

Love this classes and excellent professor. Watching from Portugal and learning so much, thanks for opportunity MIT, amazing iniciative!!

[@andreww2319]

Small note on debtor prison in the US. It still exists for tax fraud and some instances of not paying child support.

[@rickjames7200]

I absolutely love these lectures! Great questions, fun, very interactive! I’m watching this on KZbin but feel like I’m sitting in class also. Thank you!

[@lawniczakjohn]

1:10:22 mmm hmm! 1:13:35 first test… of system collapse 1:15:45 where we are today (fall 2018)

[@arrowb3408]

I still like the old good time classroom at science auditorium style where it is much easier for us kids and prof to see no matter on blackboard or to see who is who animals. Hahaha. Looks like MIT got terrific "software" system. For this medium class hardware is FINE.🙂............STF..............

[@rodrigodiaz1321]

I don’t understand how some students have waited till the 10th class to talk when class participation is 30%. Definitely not a good understanding of percentages

[@unnamedexodus3902]

For some that is an easy 30% to get. Perhaps being in a classroom full of MIT graduates could be intimidating.

[@nech060404]

​@@unnamedexodus3902this is a business class not a computer science course. To make a an impact in the business world speaking up in class is a bare minmum. If you don't participate you should fail.

[@TheChookiswatchingyou]

we are very fortunate to live in a time were education is beginning to be a commodity. :)

[@frederikschenker8611]

merci a vous pour votre travaille et échange je voulais juste dire qu'il devient prioritaire de revoir complètement le codage de sécurisation afin de ne pas étre limiter par les réserves énergétique entre autres bises Frédo CooL

[@krihanek117]

The CRA forces banks to make loans in poor communities, loans that banks may otherwise reject as financially unsound. The Federal Reserve Board's inflationary policy of artificially low interest rates made investing in subprime loans extraordinarily profitable.

[@onetwothree4148]

Exactly. Unbelievable that he completely skipped over the role of Community Reinvestment Act and the role of regulators like him in creating the "over reliance on model based lending" and destructive "incentive structures." It's no mystery that the crash started with the housing crisis and the housing crisis started with subprime loans and the epicenter of that disaster was Freddie Mae and Fanny Mac buying ridiculous loans that banks were literally required by law to originate, but sold immediately because they didn't want to hold the garbage loans. Then regulators decided bundling subprime loans in mystery derivatives was an acceptable way to spread them out, or otherwise turned a blind eye to how the market compensated for absorbing this risk.

[@julkiewitz]

Banks didn't need incentives to give bad loans. They were desperately looking for even more loans they could give because they needed them as an input to their securitized products. But in a country of 300mln there are only so many good loans you can give and those ran out quickly. And with an ever increasing demand for mortgages to package banks were happy to turn a blind eye and give loans to anyone, poor or not, overleveraged or not. Otherwise, why would there be so many people who took on multiple mortgages simultaneously without being really able to afford it - that's not part of any govt program. All that information is readily available.

[@whatsup7184]

Got the essence of the lecture from Gary. Hahaha... save a lot of time

[@andreww2319]

Really also a finance course and a really good one.

[@dadswithapurpose3167]

These videos give me such an overall more complete view of investing

[@OfficialUIUX]

Powerful episode.

[@brainstormingsharing1309]

Absolutely well done and definitely keep it up!!! 👍👍👍👍👍

[@teevus76]

Gensler for president!

[@RiccardoVincelli]

29:04 Stuart Haber special mention, number 54 of the semester

[@timalp3680]

If a market was truly free, there would never be any industry that has an "inherent conflict of interest". Most of the parts of the financial industry simply wouldn't exist if we had a truly laissez-faire economic system.

[@Eddie.The.Trader]

Look! It's the Chairman of the SEC that does nothing to protect Retail Traders and the integrity of the Financial markets!! Great!!

[@hiatuz3512]

amazing content thank you

[@andyxfits1861]

Had a friend who was in this class. Mr Gensler, what about the AMC situation and manipulation by the hedge funds?

[@illuminated2438]

What manipulation? Hedge funds are free to bet against crappy companies

[@kayjay6353]

Did every one submit their papers?

[@KevinSmith-df5fz]

At 52 minutes 20trillion economy v 70 trillion debt. How is that 300+%?

[@bob_bobsen]

can someone timestamp the readings if they're on here? I must have missed them

[@dharasingh6603]

Yobuhuu

[@scottcannon6085]

It is on the MIT website

[@shubhamguptaiitb]

Didnt get the answer to permission blockchain being append only and that is the layer 2 any different from segregations ...from the last lecture

[@kevenwang9285]

I am paying attention to Hugo

[@jahongirwebinar9375]

Good teacher

[@justkion]

Does anyone know which of Ken Rogoff's books he was referring to?

[@HouseOfERS]

I would like to know if you found it. Ty

[@onetwothree4148]

Unbelievable that he completely skipped over the role of Community Reinvestment Act and the role of regulators like him in creating the "over reliance on model based lending" and destructive "incentive structures." It's no mystery that the crash started with the housing crisis, and the housing crisis started with subprime loans, and the epicenter of that disaster was Freddie Mae and Fanny Mac buying ridiculous loans that banks were literally required by law to originate, but sold immediately because they didn't want to hold the garbage loans. Any bank that didn't do that not only couldn't compete but opened themselves up to civil lawsuit liability, per US law. Then regulators decided bundling subprime loans in mystery derivatives was an acceptable way to spread them out, or otherwise turned a blind eye to how the market compensated for absorbing this risk.

[@jedekoo]

i used to sell my steam skins to a 3rd party website and getting btc/eth ore ltc in return

[@imranatique9841]

set my own having first . than start to according and come s . financial no problem . given ? first i see system and than /all finance

[@Garce227]

Which Harvard paper do they refer to In the class?

[@lukadoncic6159]

you can check all the class readings there Sophia

[@benriggan5267]

Thanks for the content

[@Perfectmyself]

have the best carrier pigeon

[@BANYAT_W]

Thank you

[@krihanek117]

College reform is needed for college debt. Universities have BILLIONS in endowments.

[@fogofchess]

TIL Kelly Loeffer was CEO of Bakkt

[@kristiantrujillo5443]

did not expect to ever hear that name again

[@soursmurf6498]

Not a threat

[@jensfischer2065]

Financial stability = keeping up an unfair system in favor of some billionaires and against the people as long as possible.

[@illuminated2438]

You sound poor. I guess this is the excuse you use to justify it. Meanwhile, intelligent and rational people understand that the American system provides more freedom and mobility than any other system ever, anywhere. Some people are just really committed to losing and being poor.

[@trufflecappuccino]

What you propose?

[@jensfischer2065]

@@trufflecappuccino Stopping a criminal financial system that makes the superrich owning the whole world on cost of sending whole mankind to slavery.

[@crazyweb953]

Chat boot guys🔥❤️

[@soursmurf6498]

24 hours of my silence..then I have to expand

[@Arch_Mikey]

This is my true I'm sorry for the wait if participation is 30% I need 100% of this to truly succeed how can we do more I'd like to participate in conversations if they are still real time and relevant thank you very much how to donate that would be another question I'd have where is that thing for this MIT free course load that I found thank you for this great opportunity

[@soursmurf6498]

I dont know how to make time-sensitive contact with this channel (MIT-affiliate). I need to be contacted ! ..... (this is legite information)

[@kokgag5540]

37:00 Author: Kenneth Rogoff

[@opp1212]

thanks!

[@ryanbaileyboxing]

👍🏾

[@powerfulldavinciinvestment3367]

Due respect, what kind of MIT students are these whom can't even articulate ideas in such an important class?

[@powerfulldavinciinvestment3367]

What's the role of finance you all Economics students? Answer: 🤫. 2- What are the functions of finance?: 🤫 3-WHAT IS A LEDGER??? Uhmmm

[@santizd]

James hair though

[@george4573]

The film has been seen after chat gpt. Still don't like chatbots.

[@soursmurf6498]

Mighty ducks

[@rodrigodiaz1321]

When I think of collecting rents, I think of Carlos Slim from 🇲🇽

[@SphereofTime]

1:00

[@sladeprendergast1167]

Seems like he would be arrogant in real life

[@Floppy-1235]

This guy is a criminal and should be in prison. #ftx

[@superdupe8]

some of these students need to hop off their 5 minute soapbox. Prof wants to hear your questions, not your 5 minute opinionated and possibly incorrect speech

[@oldmanmillennial1980]

Yo, zoomers and young millennials need to learn respect. How you gonna call your professor Gary?

[@davidmiller3885]

The abrupt discussion intraorally include because michael etiologically step aside a magical athlete. abusive, soft name