How does government regulate for the future?
Big Think sat down with Former U.S. Representative Barney Frank at Exponential Finance, presented by Singularity University & CNBC to discuss this idea. Frank of course was the champion of the Dodd–Frank Wall Street Reform and Consumer Protection Act, which was passed in 2010 in response to the Great Recession.
In this exclusive interview, he explains the history of financial regulation in the U.S. and how it has always had to keep up with new innovations. “So what happened in the '80s, '90s and into the turn of the 21st-century was a lot of innovations that had no rules,” he says. “What we did in the Financial Reform Bill was to create new rules, and I believe we now have a fairly good set of rules for the current situation."
Are we prepared for the next great craze produced by quants, those rocket scientists of Wall Street? "The next issue is okay, what do we look out for? The answer is we don't know what to look out for because we don't know what the innovations will be of the future," he says.
In this clip from Big Think’s interview, Frank sheds light on how the Financial Reform Bill helped prepare the government to better react to innovative shifts on Wall Street that threaten the economy.
Understanding thinking talents in yourself and others can build strong teams and help avoid burnout.
- Learn to collaborate within a team and identify "thinking talent" surpluses – and shortages.
- Angie McArthur teaches intelligent collaboration for Big Think Edge.
- Subscribe to Big Think Edge before we launch on March 30 to get 20% off monthly and annual memberships.
Archeologists had been doubtful since no such ship had ever been found.
- In 450 BCE, Greek historian Herodotus described a barge that's never been found.
- When the ancient port of Thonis-Heracleion was discovered, some 70 sunken ships were found resting in its waters.
- One boat, Ship 17, uncannily matches the Herodotus' description.
The blood of horseshoe crabs is harvested on a massive scale in order to retrieve a cell critical to medical research. However, recent innovations might make this practice obsolete.
- Horseshoe crabs' blue blood is so valuable that a quart of it can be sold for $15,000.
- This is because it contains a molecule that is crucial to the medical research community.
- Today, however, new innovations have resulted in a synthetic substitute that may end the practice of farming horseshoe crabs for their blood.
The Canadian professor has been on the Joe Rogan Experience six times. There's a lot of material to discuss.
- Jordan Peterson has constantly been in the headlines for his ideas on gender over the last three years.
- While on Joe Rogan's podcast, he explains his thoughts on the gender differences in society.
- On another episode, Peterson discusses the development of character through competition.
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