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Vicechairman of blackrock, the worlds biggest money manager. It handles more than 5 trillion in assets. After the financial crisis, what have we learned . Philipp we have too much leverage in the system without any doubt. When you have too much leverage, bad things happen. Not only do they happen, but when they happen, things tend to be amplified. Thats the key thing. We have also learned that this notion of letting the market be totally free, that wasnt a good idea. What stands out is banks needed much more capital than they had at the time. We had capital levels that were excessively low. In...

Of blackrock, the worlds biggest money manager. It handles more than 5 trillion in assets. After the financial crisis, what have we learned . Philipp we have too much leverage in the system without any doubt. When you have too much leverage, bad things happen. Not only do they happen, but when they happen, things tend to be amplified. Thats the key thing. We have also learned that this notion of letting the market be totally free, that wasnt a good idea. What stands out is banks needed much more capital than they had at the time. We had capital levels that were excessively low. In some cases, ...

We meet one of the most recognized names in swiss banking. We speak with the vicechairman of blackrock, the worlds biggest money manager. It handles more than 5 trillion in assets. After the financial crisis, what have we learned . Philipp we have too much leverage in the system without any doubt. When you have too much leverage, bad things happen. Not only do they happen, but when they happen, the effects tend to be amplified. Thats the key thing. We have also learned that this notion of letting the market be totally free, that governments should get out of their way that , wasnt a good idea....

[applause] the National Book awards are a huge part of that mission, and it is a thrill to be here with everyone tonight recognizing exceptional literature and increasing the visibility of books which are among the most powerful weapons we have against what has lately felt like an often hostile world. I think this past year has felt overwhelming and disheartening to many people. Its also felt exhausting for women, for people of color, for immigrants, for muslims, for the lgbtq community, for so many groups. To remain on the defensive in nearly every waking hour takes its toll. For some of us, ...

Everyone to the 68 National Book award. [applause] like most people here tonight i have always been an avid reader and i come from a family of avid readers and i have birthed at least one avid reader, the jury is still out on the younger ones. As an only child and the daughter of two only children it wasnt uncommon in our house to find everyone in separate corners, each of us buried in a book. Huge nerds, you might have called us. Its a privilege to be in his room full of huge nerds. I feel right at home. My mothers father was a rare book dealer in chicago so the nerd gene goes back even farth...