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Peertopeer lending. There are some credit qualifications on both sides. The bank that provides the credit evaluation is out of the mix. Is that a good thing or a bad thing . Society started off with the barter system before. The first bank was formed i think it is great. System,on, the payment these are all innovations. If there is a market for it and they can do it efficiently and manage the credit risk, god bless them. It going to end in tears . With a set of problems emerging . Nothing is riskfree, particularly around money. Understand thee credit risks they are taking. What really matters ...

Peertopeer lending. There are some credit qualifications on both sides. The bank that provides the credit evaluation is out of the mix. Is that a good thing or a bad thing . Society started off with the barter system before. The first bank was formed i think it is great. Innovation, the payment system, these are all innovations. If there is a market for it and they can do it efficiently and manage the credit risk, god bless them. Is it going to end in tears . With a set of problems emerging . Nothing is riskfree, particularly around money. Again, if people understand the credit risks they are ...

There are great quotes from now the cost talking about these mystical chess grandmasters. Once computers got better, we looked in the rearview window and said, this is just pattern matching. I had the chance to talk to gary and he was the world chess champion. Between intelligence. There are great quotes from now when he first became world champion, he played 32 simultaneous matches against the best chess playing computers and he won 320. 10 years later, ibm beat him in a pretty close match and now it is not even close. They asked how he would prepare for a match against a computer and he said...

Book about economics and then somebody shows you what that actually means. Machines dont think. In the same way, there is a great pioneer of Artificial Intelligence that said airplanes dont flap their wings. We see cool stuff going on in nature and we build machines that get there. When i talk to these uber geeks and i say, are you building artificial brains, they generally say i have no idea how the brain works. I am solving an engineering problem. There are guys who are trying to reverse engineer the brain and put that in silicon. If they are successful, it will take them along time. The ter...

Im going to give you another question to avoid. Lets start to where the crisis hit the fan. Bear stearns has been saved. Lehman brothers was the next one up. We can talk about whether they could or couldnt but in your mind, was that the right decision as when liam fell and well leave the discussion to go for a briefing with the spokesman, rear admiral john kirby. [captioning performed by National Captioning Institute] [captions Copyright National cable satellite corp. 2014] captioned by the National Captioning Institute www. Ncicap. Org as you may recall and i talked about this before, a coupl...