Home › Forums › Financial Markets/Economics › Who needs wall street innovation
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November 3, 2009 at 8:50 AM #477621November 3, 2009 at 1:04 PM #476912
dbapig
Participant[quote=afx114]Kiva.org is innovation.[/quote]
True but is it really a Wall Street innovation or Tech innovation? It’s more of a tech innovation, aka internet.
You cannot really say ‘Wall Street’ and ‘Kiva’ in the same sentence.
November 3, 2009 at 1:04 PM #477085Participant[quote=afx114]Kiva.org is innovation.[/quote]
True but is it really a Wall Street innovation or Tech innovation? It’s more of a tech innovation, aka internet.
You cannot really say ‘Wall Street’ and ‘Kiva’ in the same sentence.
November 3, 2009 at 1:04 PM #477451Participant[quote=afx114]Kiva.org is innovation.[/quote]
True but is it really a Wall Street innovation or Tech innovation? It’s more of a tech innovation, aka internet.
You cannot really say ‘Wall Street’ and ‘Kiva’ in the same sentence.
November 3, 2009 at 1:04 PM #477528Participant[quote=afx114]Kiva.org is innovation.[/quote]
True but is it really a Wall Street innovation or Tech innovation? It’s more of a tech innovation, aka internet.
You cannot really say ‘Wall Street’ and ‘Kiva’ in the same sentence.
November 3, 2009 at 1:04 PM #477749Participant[quote=afx114]Kiva.org is innovation.[/quote]
True but is it really a Wall Street innovation or Tech innovation? It’s more of a tech innovation, aka internet.
You cannot really say ‘Wall Street’ and ‘Kiva’ in the same sentence.
November 3, 2009 at 1:52 PM #476937briansd1
GuestCredit innovation is just a way to borrow from the future in a way that makes it seem less painful today.
People used to buy cars with cash savings. Then they could buy cars with 20% down. Then they bought cars with zero down. Then they leased cars with residual value at the end of the lease.
Consumption/production gets front-loaded but the debts need to be paid back some way, somehow, in the future.
Wall Street “earned” up-front commissions on making credit available so they don’t care if the debt is ever paid back. The onus will be on the government to bailout the system.
We all end-up in debt servitude where all of our income goes to service debt and to pay for services that we think we need.
November 3, 2009 at 1:52 PM #477109GuestCredit innovation is just a way to borrow from the future in a way that makes it seem less painful today.
People used to buy cars with cash savings. Then they could buy cars with 20% down. Then they bought cars with zero down. Then they leased cars with residual value at the end of the lease.
Consumption/production gets front-loaded but the debts need to be paid back some way, somehow, in the future.
Wall Street “earned” up-front commissions on making credit available so they don’t care if the debt is ever paid back. The onus will be on the government to bailout the system.
We all end-up in debt servitude where all of our income goes to service debt and to pay for services that we think we need.
November 3, 2009 at 1:52 PM #477475GuestCredit innovation is just a way to borrow from the future in a way that makes it seem less painful today.
People used to buy cars with cash savings. Then they could buy cars with 20% down. Then they bought cars with zero down. Then they leased cars with residual value at the end of the lease.
Consumption/production gets front-loaded but the debts need to be paid back some way, somehow, in the future.
Wall Street “earned” up-front commissions on making credit available so they don’t care if the debt is ever paid back. The onus will be on the government to bailout the system.
We all end-up in debt servitude where all of our income goes to service debt and to pay for services that we think we need.
November 3, 2009 at 1:52 PM #477554GuestCredit innovation is just a way to borrow from the future in a way that makes it seem less painful today.
People used to buy cars with cash savings. Then they could buy cars with 20% down. Then they bought cars with zero down. Then they leased cars with residual value at the end of the lease.
Consumption/production gets front-loaded but the debts need to be paid back some way, somehow, in the future.
Wall Street “earned” up-front commissions on making credit available so they don’t care if the debt is ever paid back. The onus will be on the government to bailout the system.
We all end-up in debt servitude where all of our income goes to service debt and to pay for services that we think we need.
November 3, 2009 at 1:52 PM #477774GuestCredit innovation is just a way to borrow from the future in a way that makes it seem less painful today.
People used to buy cars with cash savings. Then they could buy cars with 20% down. Then they bought cars with zero down. Then they leased cars with residual value at the end of the lease.
Consumption/production gets front-loaded but the debts need to be paid back some way, somehow, in the future.
Wall Street “earned” up-front commissions on making credit available so they don’t care if the debt is ever paid back. The onus will be on the government to bailout the system.
We all end-up in debt servitude where all of our income goes to service debt and to pay for services that we think we need.
November 3, 2009 at 3:13 PM #476976UCGal
Participant[quote=dbapig][quote=afx114]Kiva.org is innovation.[/quote]
True but is it really a Wall Street innovation or Tech innovation? It’s more of a tech innovation, aka internet.
You cannot really say ‘Wall Street’ and ‘Kiva’ in the same sentence.[/quote]
One involves macro financing. One involves micro financing.
One involves pooling debt into traunches and converting them to investment vehicles like MBS and CDOs… The other involves pooling small lenders to make loans to very small borrowers – to change the lives of the borrowers.
One is driven by people obsessed with profit and bonuses, the other is driven by people who quit their high tech jobs at Tivo, Broadcom, Ebay etc to start this microfinancing venture to do good.
There are comparisons – but they’re not very favorable to Wall Street.
November 3, 2009 at 3:13 PM #477149Participant[quote=dbapig][quote=afx114]Kiva.org is innovation.[/quote]
True but is it really a Wall Street innovation or Tech innovation? It’s more of a tech innovation, aka internet.
You cannot really say ‘Wall Street’ and ‘Kiva’ in the same sentence.[/quote]
One involves macro financing. One involves micro financing.
One involves pooling debt into traunches and converting them to investment vehicles like MBS and CDOs… The other involves pooling small lenders to make loans to very small borrowers – to change the lives of the borrowers.
One is driven by people obsessed with profit and bonuses, the other is driven by people who quit their high tech jobs at Tivo, Broadcom, Ebay etc to start this microfinancing venture to do good.
There are comparisons – but they’re not very favorable to Wall Street.
November 3, 2009 at 3:13 PM #477515Participant[quote=dbapig][quote=afx114]Kiva.org is innovation.[/quote]
True but is it really a Wall Street innovation or Tech innovation? It’s more of a tech innovation, aka internet.
You cannot really say ‘Wall Street’ and ‘Kiva’ in the same sentence.[/quote]
One involves macro financing. One involves micro financing.
One involves pooling debt into traunches and converting them to investment vehicles like MBS and CDOs… The other involves pooling small lenders to make loans to very small borrowers – to change the lives of the borrowers.
One is driven by people obsessed with profit and bonuses, the other is driven by people who quit their high tech jobs at Tivo, Broadcom, Ebay etc to start this microfinancing venture to do good.
There are comparisons – but they’re not very favorable to Wall Street.
November 3, 2009 at 3:13 PM #477593Participant[quote=dbapig][quote=afx114]Kiva.org is innovation.[/quote]
True but is it really a Wall Street innovation or Tech innovation? It’s more of a tech innovation, aka internet.
You cannot really say ‘Wall Street’ and ‘Kiva’ in the same sentence.[/quote]
One involves macro financing. One involves micro financing.
One involves pooling debt into traunches and converting them to investment vehicles like MBS and CDOs… The other involves pooling small lenders to make loans to very small borrowers – to change the lives of the borrowers.
One is driven by people obsessed with profit and bonuses, the other is driven by people who quit their high tech jobs at Tivo, Broadcom, Ebay etc to start this microfinancing venture to do good.
There are comparisons – but they’re not very favorable to Wall Street.
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