Financial innovations
If you know some of the proverbial financial innovation bloggers like Felix Salmon at Reuters, Mike at Rortybomb and James Kwak at Baseline Scenario you must know they have got dubious about financial innovations recently. This dubiousness is nourishing the thrust for maintenance of financial products and services (including the creation of a Consumer Finnancial Protecting Agnecy).
On the other hand, if you are to guess the sense of the prominence of financial innovation, it helps to look beyond Wall Street. The WSJ has a piece today which largely focus on multiple firms forcing back against ham-fisted regulation of derivatives. How come? Non-financial firms comprising extensive manufacturing of machines, food and beverages companies, Farma firms, airlines, use these innovations to deal with risk sagaciously. Any decision made ill mannerly or in haste in concern to the current crisis will rather likely drain your endeavors. For these firms and their customers, suppliers, shareholders an etc — financial innovation is not zero-sum yet it is God’s benediction.
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