Joel E Lewis

Note: The first publishing of this post was accidentally an unfinished draft.  This the corrected copy. The Wall Street journal asks? Was it surprising to investors that Merrill paid $3.6 billion in bonuses? This figure leaned toward the low end of estimates that had appeared in the press, and it was significantly less than the [...]

What’s next for US banks – The McKinsey Quarterly – What’s next for US banks – Financial Services – Banking. McKinsey analysis of what’s happened to banking so far and what’s in store for the future.  The pain may not be over…

Banking Reform Summary of the above link:  The banking system should be remade in the image of Limited Purpose Banking (LPB).  LPB advocates modeling the entire banking industry after the mutual fund industry.  Banks would manage these funds for a fee, but only consumers and investors would own shares in them.  For example, if you [...]

The more things change, the more they are the same. In a drought, the river may dry up, but the lay of the land stays the same.  When the rain returns, the waters will flow the same way. The structure of the Finance industry (the lay of the land created by laws, technology, and customer [...]