Expert insights. Personalized for you.
‘Inescapable’ that some firms will accumulate unaffordable debt, says Charles Randall The head of the City watchdog has told banks to prepare for a surge in business customers falling behind on their debts, but warned firms must be treated fairly to avoid a “replay” of 2008 when trust in lenders collapsed. MORE
In 2008 progressives failed to anticipate and define a compelling story about the financial crisis. But a clear diagnosis of the nature of this crisis, the longstanding weaknesses it has exposed, and a progressive story of how we might recover from it, are as vital now as they were in 2008. Progressives missed an opportunity after the last crash. MORE
53 
Recently a federal appeals court decided that the Consumer Finance Protection Bureau—a federal organization designed to safeguard against some of the pitfalls that led to the 2008 crisis—had been operating unconstitutionally, something which is certainly a blow to the agency itself and will no doubt have ramifications for how it Read More. MORE
trillion peak it reached in the fall of 2008 — the same time that the Great Recession was earning its place in the history books. trillion at the end of the first quarter of 2017, up $473 billion from a year ago and $50 billion above the previous 2008 record. The decline in debt between 2008 and 2013 was an aberration from what had been a 63-year upward trend reflecting the depth, duration and aftermath of the Great Recession. MORE
The black line in Chart 1 shows that labour productivity – defined as output per hour worked – has stagnated since around 2008. Marko Melolinna. Monetary policy makers need to know whether the economy is operating above or below its supply capacity. If the economy is operating above its supply capacity, inflation is likely to rise, and vice versa. A crucial component of supply capacity is the labour productivity trend but we cannot observe this directly. We have to estimate it. MORE
Court hears Qatari leader spoke to then PM as bank pressurised to accept government money A Qatari leader spoke to then prime minister Gordon Brown during the 2008 financial crisis as Barclays came under increasing pressure to accept government money, a former bank boss has told a high court judge. Former Barclays chief executive John Varley told Mr Justice Waksman how Qatari prime minister Sheikh Hamad spoke to Brown in October 2008 to “defuse” that pressure. MORE
In a seminal article titled “The Age of the Cockroach,” Caterina Fake argues that startups, much like cockroaches, can survive a downturn by focusing on the unglamorous essentials. “Companies that want to outlast the coming funding crisis will need to … Continued. Funding & Dealflow Valuations MORE
44 
It’s interesting that the Global Financial Crisis (GFC) sparked by Lehman Brothers collapse in September 2008 sparked the FinTech revolution, according to some. I personally think FinTech was bubbling away before the GFC but, certainly, the GFC led to massive investment focus upon changing the system (almost $100 billion since … The post How Lehmans collapse started the FinTech fire appeared first on Chris Skinner's blog. Fintech Grid Opinion MORE
After the 2008 financial crisis, that’s exactly what happened. It’s probably a bit of a stretch to say people need banks as much as they do water. But you probably haven’t gone a whole day without your bank for a while. MORE
It’s the largest monthly decline since December 2008. The Consumer Price Index (CPI) fell to its lowest level in a dozen years last month, according to the U.S. Bureau of Labor Statistics (BLS). The CPI, a measure of the change in the prices of goods and services, dropped 0.8 percent in April on a seasonally adjusted basis. At nearly 21 percent, the decline in the gasoline prices was the largest contributor to the monthly decrease. MORE
This is directly reminiscent of 2008 when a French Real Estate Fund froze redemptions. Liquidity is a given in markets, and Sept 2008 looms large. The world economy came to a stop on Sept 15th 2008 when no bank would transact with another bank for bank to bank liquidity transactions. This paragraph within an FT article tonight caught my attention. MORE
69 government and business spending on tech might drop 5% in 2020 due to the pandemic, by optimistic estimates, whereas the 2008 financial crisis spurred a 2% drop, according to Forrester Research.? “The The pandemic’s effect on tech budgets is not only more than the 2008 financial crisis, but might also have a lingering effect on […]. MORE
That was before September 2008. I feel sorry for Deutsche Bank. I’ve worked with the bank and they have some great people. It used to be that their investment banking services were one of the best in Europe, alongside UBS and Barclays Bank. Since then, it’s been like an old … The post The world’s most destructive bank? appeared first on Chris Skinner's blog. Grid Opinion MORE
mobile payments companies founded after the 2008 financial crisis, and digital banks including Chime Inc. Fintech startups looking to upend how Americans do their banking are facing their first major test as interest rates fall and fearful consumers seek safety at traditional banks. Square Inc. and Stripe Inc., and MoneyLion have never experienced a major […]. MORE
Mortgage rates are at record lows, but borrowers hoping to take advantage are running into the toughest loan-approval standards in years. Mortgage rates Refinance Originations Underwriting MORE
Banking officials are in a panic over the coronavirus as it upturns their revenues, with PJT Partners restructuring specialist Tim Coleman describing the viral pandemic as “like a cross between September 11 and the global financial crisis of 2008.”. MORE
In this case I am starting by looking back on the history of Fintech from 2008 to 2020 and then looking forward to next year and the distant future of 2024. The post Fintech from 2008 to 2024 appeared first on Daily Fintech. 2020 is nearly over; it is time to celebrate and look forward. MORE
102 Unlike in 2008, banks have become a steady force during the coronavirus pandemic. Fintech Crisis management TARP Community banking Coronavirus Community banks MORE
Bill Clerico created WePay during the last financial crisis, and sees a similar opportunity now. The coronavirus pandemic is affecting different markets in vastly different ways, and easing the flow of capital is just one way to provide help. MORE
Things we’re reading today include … Banks ‘could share branches’ in bid to rescue access to cash Visa hails ‘permanent’ shift in consumer spending habits Banks must treat debt-laden firms fairly to avoid replay of 2008, says FCA chair New trials planned for cash-stricken communities UK Finance boss resigns as … The post Things worth reading: 17th June 2020 appeared first on Chris Skinner's blog. MORE
203 cut Chief Executive Officer Kenneth Chenault's pay 26 percent to the lowest level since 2008 after the credit-card lender's stock and profit slumped last year. American Express Co. credit news risk-analytics MORE
The 2008 recession may have had a stronger impact on the retail world than once previously thought. 6,200 | Peek number of store closings in 2008. When this turbulent time for retailers hit, the world was in the midst of an expanding eCommerce growth period. As such, more brick-and-mortar stores are projected to close this year than during the economic downturn from nine years ago. Here are the numbers: 2,880 | Number of store closings so far in 2017. MORE
This is directly reminiscent of 2008 when a French Real Estate Fund froze redemptions. Liquidity is a given in markets, and Sept 2008 looms large. The world economy came to a stop on Sept 15th 2008 when no bank would transact with another bank for bank to bank liquidity transactions. This paragraph within an FT article tonight caught my attention. On Tuesday, the pound shed 2 per cent after a handful of large UK commercial property funds. froze redemptions. MORE
69 
While troubling factors such as higher risk profiles may be behind the recent lending boom, the industry could also just be returning to the historical average for loan growth following the "Great Panic" of 2008-2010. consumer-finance earnings-community-banks commercial-lending cre performance mortgage community-banking MORE
It’s exactly ten years since I landed in Vienna for Sibos 2008 on Sunday, September 14 2008, to find voicemail after voicemail asking for commentary … The post Today marks ten years since Lehmans collapsed and the GFC started appeared first on Chris Skinner's blog. It’s September 14. It’s exactly ten years since Lehman Brothers collapsed. It’s ten years since the touchpaper was lit that sparked the Global Financial Crisis (GFC). MORE
When it comes to fraud and COVID-19, the Great Recession of 2008 provides some important lessons that can help banks and consumers protect themselves against the increased risk. Here’s what different about fraud during COVID than 2008. MORE
Credit Suisse Group AG analyst Christian Buss reports that year-to-date store closings are already outpacing those of 2008, when the country was at the peak of a recession. It’s estimated that there could be 8,640 store closings in 2017, higher than the 2008 peak of about 6,200. As more consumers are turning to online marketplaces like Amazon to get their shopping done, American retailers are closing their doors at a record pace. MORE
Do you remember where you were on 15 September 2008? I do remember where I was on 15 September 2008. I was there, so here are my personal stories of the days around the Lehman Brothers collapse on 15 September 2008: Story 1: Don’t push me I am close to the edge. If heart attack is the best analogy here is what happened on 15 September 2008: The EMT team applied defibillators and the patient’s heart started again. MORE
The only current CEO who steered a major U.S. bank through the financial crisis, Dimon said JPMorgan’s earnings will be “down meaningfully” this year as a result of the coronavirus pandemic. Financial regulations Jamie Dimon Economy Coronavirus JPMorgan Chase Consumer banking Commercial banking MORE
The £1.5bn case of the high-flying businesswoman began its high court hearing this week It is June 2008 and the start of the financial crisis. Everyone in the City of London is firefighting, but two bankers are wrestling with an especially thorny problem. They are within touching distance of saving their bank from oblivion, yet a single sticking point remains: how do they accept the rescue deal on offer from the Gulf state of Qatar, while simultaneously keeping themselves out of prison? MORE
One of the top banking regulators during the 2008 financial crisis could have a hand in nudging Fannie Mae out of conservatorship. FDIC Mortgages Corporate governance FHFA Fannie Mae GSEs Freddie Mac MORE
The firm set aside a record $9.5 billion for credit losses, about $4 billion more than analysts had expected, as it braces for a wave of coronavirus-related defaults. Wells Fargo Earnings Coronavirus Charles Scharf Loan-loss provisions MORE
Wolf speaks of three key risks within the financial system which intestingly are precisely those same risks from 2008. Rather than repeat all those arguments, here is the story of Wachovia and the speed with which it disappeared in hours and days back in 2008. Equity base $72 billion Form 10K Feb 2008. MORE
Barclays: Qataris spoke to Gordon Brown to ‘defuse 2008 bailout pressure’ Trade finance stumbles into the digital era Hong Kong: HSBC … The post Things worth reading: 3rd July 2020 appeared first on Chris Skinner's blog. Things we’re reading today include … Wirecard North America sale draws interest from payments groups Why zero interest rates might lead to currency volatility How resilient are the banks? MORE
The financial crash of 2008 was predicted similarly by Sequoia, which sent an ominous email simply titled “RIP Good Times” during the depths of that recession. Investments 2008 recession Airbnb china Coronavirus economy investors News Sequoia Capital U.S Venture capital firm Sequoia Capital warned in an email to entrepreneurs on Thursday that the coronavirus could potentially be the herald of a “prolonged” global economic slow-down. MORE
2008 Related Topics Daily Fintech
DECEMBER 29, 2020
In this case I am starting by looking back on the history of Fintech from 2008 to 2020 and then looking forward to next year and the distant future of 2024. The post Fintech from 2008 to 2024 appeared first on Daily Fintech. 2020 is nearly over; it is time to celebrate and look forward.
Payments Source
JULY 27, 2020
Bill Clerico created WePay during the last financial crisis, and sees a similar opportunity now. The coronavirus pandemic is affecting different markets in vastly different ways, and easing the flow of capital is just one way to provide help.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
PYMNTS
MAY 12, 2020
It’s the largest monthly decline since December 2008. The Consumer Price Index (CPI) fell to its lowest level in a dozen years last month, according to the U.S. Bureau of Labor Statistics (BLS). The CPI, a measure of the change in the prices of goods and services, dropped 0.8 percent in April on a seasonally adjusted basis. At nearly 21 percent, the decline in the gasoline prices was the largest contributor to the monthly decrease.
PYMNTS
MARCH 13, 2020
Banking officials are in a panic over the coronavirus as it upturns their revenues, with PJT Partners restructuring specialist Tim Coleman describing the viral pandemic as “like a cross between September 11 and the global financial crisis of 2008.”.
.png)
The Bankwatch
JULY 5, 2016
This is directly reminiscent of 2008 when a French Real Estate Fund froze redemptions. Liquidity is a given in markets, and Sept 2008 looms large. The world economy came to a stop on Sept 15th 2008 when no bank would transact with another bank for bank to bank liquidity transactions. This paragraph within an FT article tonight caught my attention.
The Bankwatch
JULY 5, 2016
This is directly reminiscent of 2008 when a French Real Estate Fund froze redemptions. Liquidity is a given in markets, and Sept 2008 looms large. The world economy came to a stop on Sept 15th 2008 when no bank would transact with another bank for bank to bank liquidity transactions. This paragraph within an FT article tonight caught my attention. On Tuesday, the pound shed 2 per cent after a handful of large UK commercial property funds. froze redemptions.
PYMNTS
MAY 23, 2017
trillion peak it reached in the fall of 2008 — the same time that the Great Recession was earning its place in the history books. trillion at the end of the first quarter of 2017, up $473 billion from a year ago and $50 billion above the previous 2008 record. The decline in debt between 2008 and 2013 was an aberration from what had been a 63-year upward trend reflecting the depth, duration and aftermath of the Great Recession.
Daily Fintech
SEPTEMBER 8, 2018
Do you remember where you were on 15 September 2008? I do remember where I was on 15 September 2008. I was there, so here are my personal stories of the days around the Lehman Brothers collapse on 15 September 2008: Story 1: Don’t push me I am close to the edge. If heart attack is the best analogy here is what happened on 15 September 2008: The EMT team applied defibillators and the patient’s heart started again.
American Banker
MAY 8, 2020
Mortgage rates are at record lows, but borrowers hoping to take advantage are running into the toughest loan-approval standards in years. Mortgage rates Refinance Originations Underwriting
Fico Collections
AUGUST 21, 2020
When it comes to fraud and COVID-19, the Great Recession of 2008 provides some important lessons that can help banks and consumers protect themselves against the increased risk. Here’s what different about fraud during COVID than 2008.
American Banker
JULY 14, 2020
The firm set aside a record $9.5 billion for credit losses, about $4 billion more than analysts had expected, as it braces for a wave of coronavirus-related defaults. Wells Fargo Earnings Coronavirus Charles Scharf Loan-loss provisions
PYMNTS
APRIL 10, 2017
Credit Suisse Group AG analyst Christian Buss reports that year-to-date store closings are already outpacing those of 2008, when the country was at the peak of a recession. It’s estimated that there could be 8,640 store closings in 2017, higher than the 2008 peak of about 6,200. As more consumers are turning to online marketplaces like Amazon to get their shopping done, American retailers are closing their doors at a record pace.
PYMNTS
APRIL 10, 2017
The 2008 recession may have had a stronger impact on the retail world than once previously thought. 6,200 | Peek number of store closings in 2008. When this turbulent time for retailers hit, the world was in the midst of an expanding eCommerce growth period. As such, more brick-and-mortar stores are projected to close this year than during the economic downturn from nine years ago. Here are the numbers: 2,880 | Number of store closings so far in 2017.
BankUnderground
JULY 3, 2020
The black line in Chart 1 shows that labour productivity – defined as output per hour worked – has stagnated since around 2008. Marko Melolinna. Monetary policy makers need to know whether the economy is operating above or below its supply capacity. If the economy is operating above its supply capacity, inflation is likely to rise, and vice versa. A crucial component of supply capacity is the labour productivity trend but we cannot observe this directly. We have to estimate it.
PYMNTS
MARCH 6, 2020
The financial crash of 2008 was predicted similarly by Sequoia, which sent an ominous email simply titled “RIP Good Times” during the depths of that recession. Investments 2008 recession Airbnb china Coronavirus economy investors News Sequoia Capital U.S Venture capital firm Sequoia Capital warned in an email to entrepreneurs on Thursday that the coronavirus could potentially be the herald of a “prolonged” global economic slow-down.
American Banker
APRIL 6, 2020
The only current CEO who steered a major U.S. bank through the financial crisis, Dimon said JPMorgan’s earnings will be “down meaningfully” this year as a result of the coronavirus pandemic. Financial regulations Jamie Dimon Economy Coronavirus JPMorgan Chase Consumer banking Commercial banking
TheGuardian
JUNE 16, 2020
‘Inescapable’ that some firms will accumulate unaffordable debt, says Charles Randall The head of the City watchdog has told banks to prepare for a surge in business customers falling behind on their debts, but warned firms must be treated fairly to avoid a “replay” of 2008 when trust in lenders collapsed.
TheGuardian
JULY 2, 2020
Court hears Qatari leader spoke to then PM as bank pressurised to accept government money A Qatari leader spoke to then prime minister Gordon Brown during the 2008 financial crisis as Barclays came under increasing pressure to accept government money, a former bank boss has told a high court judge. Former Barclays chief executive John Varley told Mr Justice Waksman how Qatari prime minister Sheikh Hamad spoke to Brown in October 2008 to “defuse” that pressure.
TheGuardian
JUNE 13, 2020
The £1.5bn case of the high-flying businesswoman began its high court hearing this week It is June 2008 and the start of the financial crisis. Everyone in the City of London is firefighting, but two bankers are wrestling with an especially thorny problem. They are within touching distance of saving their bank from oblivion, yet a single sticking point remains: how do they accept the rescue deal on offer from the Gulf state of Qatar, while simultaneously keeping themselves out of prison?
Payments Source
MARCH 21, 2016
cut Chief Executive Officer Kenneth Chenault's pay 26 percent to the lowest level since 2008 after the credit-card lender's stock and profit slumped last year. American Express Co. credit news risk-analytics
TheGuardian
MAY 13, 2020
In 2008 progressives failed to anticipate and define a compelling story about the financial crisis. But a clear diagnosis of the nature of this crisis, the longstanding weaknesses it has exposed, and a progressive story of how we might recover from it, are as vital now as they were in 2008. Progressives missed an opportunity after the last crash.
The Bankwatch
JANUARY 25, 2015
Wolf speaks of three key risks within the financial system which intestingly are precisely those same risks from 2008. Rather than repeat all those arguments, here is the story of Wachovia and the speed with which it disappeared in hours and days back in 2008. Equity base $72 billion Form 10K Feb 2008.
American Banker
SEPTEMBER 12, 2016
While troubling factors such as higher risk profiles may be behind the recent lending boom, the industry could also just be returning to the historical average for loan growth following the "Great Panic" of 2008-2010. consumer-finance earnings-community-banks commercial-lending cre performance mortgage community-banking
CB Insights
APRIL 1, 2016
In a seminal article titled “The Age of the Cockroach,” Caterina Fake argues that startups, much like cockroaches, can survive a downturn by focusing on the unglamorous essentials. “Companies that want to outlast the coming funding crisis will need to … Continued. Funding & Dealflow Valuations
Chris Skinner
SEPTEMBER 13, 2018
It’s exactly ten years since I landed in Vienna for Sibos 2008 on Sunday, September 14 2008, to find voicemail after voicemail asking for commentary … The post Today marks ten years since Lehmans collapsed and the GFC started appeared first on Chris Skinner's blog. It’s September 14. It’s exactly ten years since Lehman Brothers collapsed. It’s ten years since the touchpaper was lit that sparked the Global Financial Crisis (GFC).
Chris Skinner
MAY 28, 2019
That was before September 2008. I feel sorry for Deutsche Bank. I’ve worked with the bank and they have some great people. It used to be that their investment banking services were one of the best in Europe, alongside UBS and Barclays Bank. Since then, it’s been like an old … The post The world’s most destructive bank? appeared first on Chris Skinner's blog. Grid Opinion
Bank Innovation
MARCH 12, 2020
mobile payments companies founded after the 2008 financial crisis, and digital banks including Chime Inc. Fintech startups looking to upend how Americans do their banking are facing their first major test as interest rates fall and fearful consumers seek safety at traditional banks. Square Inc. and Stripe Inc., and MoneyLion have never experienced a major […].
Chris Skinner
JUNE 16, 2020
Things we’re reading today include … Banks ‘could share branches’ in bid to rescue access to cash Visa hails ‘permanent’ shift in consumer spending habits Banks must treat debt-laden firms fairly to avoid replay of 2008, says FCA chair New trials planned for cash-stricken communities UK Finance boss resigns as … The post Things worth reading: 17th June 2020 appeared first on Chris Skinner's blog.
Chris Skinner
JULY 2, 2020
Barclays: Qataris spoke to Gordon Brown to ‘defuse 2008 bailout pressure’ Trade finance stumbles into the digital era Hong Kong: HSBC … The post Things worth reading: 3rd July 2020 appeared first on Chris Skinner's blog. Things we’re reading today include … Wirecard North America sale draws interest from payments groups Why zero interest rates might lead to currency volatility How resilient are the banks?
Chris Skinner
SEPTEMBER 18, 2018
It’s interesting that the Global Financial Crisis (GFC) sparked by Lehman Brothers collapse in September 2008 sparked the FinTech revolution, according to some. I personally think FinTech was bubbling away before the GFC but, certainly, the GFC led to massive investment focus upon changing the system (almost $100 billion since … The post How Lehmans collapse started the FinTech fire appeared first on Chris Skinner's blog. Fintech Grid Opinion
BankInovation
OCTOBER 19, 2020
After the 2008 financial crisis, that’s exactly what happened. It’s probably a bit of a stretch to say people need banks as much as they do water. But you probably haven’t gone a whole day without your bank for a while.
American Banker
APRIL 14, 2020
Unlike in 2008, banks have become a steady force during the coronavirus pandemic. Fintech Crisis management TARP Community banking Coronavirus Community banks
American Banker
NOVEMBER 5, 2020
One of the top banking regulators during the 2008 financial crisis could have a hand in nudging Fannie Mae out of conservatorship. FDIC Mortgages Corporate governance FHFA Fannie Mae GSEs Freddie Mac
Bank Innovation
OCTOBER 17, 2016
Recently a federal appeals court decided that the Consumer Finance Protection Bureau—a federal organization designed to safeguard against some of the pitfalls that led to the 2008 crisis—had been operating unconstitutionally, something which is certainly a blow to the agency itself and will no doubt have ramifications for how it Read More.
BankInovation
NOVEMBER 17, 2020
Founded in 2008, Wealthfront has 400,000 customers and […]. Wealthfront is refreshing its Autopilot product, as the digital fintech looks towards faster funding and a larger catalog of destinations. The Palo Alto, Calif.-based
Let's personalize your content