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  • Ben Goldhirsh

    Thanks for sharing this, Maria. Super interested to see how innovators move the banking sector from their current position in society to a critical and more symbiotic role. Was at a dinner with John Macarthur the other day and he was talking about how the former perspective of the value of that industry was proven to be overvalued post the 08 debacle and how that informs future comp and regulatory perspectives. John, you want to chime in here?

      • Ben Goldhirsh

        also, you're too handsome to have a yellow box avatar.

      • Ben Goldhirsh

        thanks John. this is very valuable for me to read. how long has the implicit guarantee (reference below and in the article) existed? Prior to the new trend of a more leveraged, more aggressive bank, what did banking p&ls and salaries look like? Is the fear within that industry a return to a more ascetic style?

        "Bankers want to be so highly leveraged for a simple reason: implicit government guarantees mean that they get the upside when things go well, while the downside is someone else’s problem. Contrary to bankers’ claims, this is not a good arrangement for society"