“'A sad day for the American financial system… It represents a significant blow to New York City's economy and marks the end of an era in American finance.'' That’s a 1990 quote from then-Rep. Charles Schumer discussing the demise of Drexel Burnham, a firm that pioneered junk bonds.
Read MoreThe Financial Revolutionist is weekly newsletter and blog focused on the torrid pace of financial innovation. Today, thanks to the exponential rate of technological change, explosion in global trade and new regulations ushered in by the Great Financial Crisis, a new financial revolution is under way. In this battle, virtually every aspect of the greater financial services sector is subject to rigorous challenge. With the Financial Revolutionist, we are aspiring to create a boots-on-the-ground and highly opinionated assessment of important financial innovation developments in the past week.
