Inspired by Andrew Ross Sorkin’s insights on the topic, in this episode, I explore the differences between the financial crises of 2008 and 2023 and share my thoughts on which one was the most egregious.
If you found value in this episode, I would really appreciate if you could leave a review! My mission is to help and support as many FinTech startups as possible, and when you leave a positive review, more people can find this podcast and help their companies! If you are on Apple, just click here to review, select “Ratings and Reviews” and “Write a Review” and tell me what your favorite part of the podcast is.
Today's episode:
[00:38] An overview of today’s topic: comparing the 2008 and 2023 crises.
[00:56] The person who inspired this episode.
[01:38] Causes of the subprime mortgage crisis of 2008.
[02:58] How the more recent financial crisis differs from the previous one, according to Andrew Ross Sorkin.
[04:20] The Credit Suisse case study.
[06:17] How banks often explain away their inefficiencies and failures.
[07:06] What a conflict of interest is and an example of this concept in action.
[10:12] Reasons why I believe the 2023 crisis is worse than the 2008 crisis.
[11:58] Why compliance and risk functions are often excluded from important decisions.
Show links: