Global Conference 2007 | Financial Innovations: Is the Great Wave Subsiding?
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Panel Detail:
Wednesday, April 25, 2007 9:20 am - 10:35 am
Financial Innovations: Is the Great Wave Subsiding?
Speakers:
Richard d'Albert,
Managing Director and Global Head of Securitized Products Group & CDO Group, Deutsche Bank
Michael Milken,
Chairman, Milken Institute; Chairman, FasterCures / The Center for Accelerating Medical Solutions
Lewis Ranieri,
Founder, Hyperion Private Equity Funds; Chairman, CEO and President, Ranieri & Co. Inc.
Richard Sandor,
Chairman and CEO, Chicago Climate Exchange Inc.; Senior Fellow, Milken Institute
Moderator:
Glenn Yago, Director, Capital Studies, Milken Institute
Financial innovations and their role in spurring economic growth are discussed by, from left, Richard Sandor, Lewis Ranieri, Richard d’Albert, Michael Milken and moderator Glenn Yago.
Most of the securities issued in public offerings today did not exist before 1974. The spectrum of capital structure, from debt to equity, has merged in recent years with the explosion of financial innovations and products. These innovations have had a profound influence on the world economy - and important consequences for the management of risk for societies and political systems. Understanding how these complex capital structures affect the way companies and individuals can raise capital in larger amounts and at lower cost is critical to overcoming growth challenges throughout the world. There is still a striking lack of diversification and a huge amount of un-hedged risks in the world. In past sessions, our panelists have warned against "running victory laps prematurely" in celebrating the financial revolution of the last quarter of the 20th century. This year's panelists will answer the question: Is the great wave of financial innovation subsiding in the 21st century at a time when it is needed most? What are the sources and content of financial innovation now and for the coming year?
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