157 - The Differences Between the Financial Crises of 2008 and 2023

<p dir="ltr">Inspired by Andrew Ross Sorkin’s insights on the topic, in this episode, I explore the differences between the financial crises of 2008 and 2023 and share my thoughts on which one was the most egregious. </p> <p dir="ltr">If you found value in this episode, I would really appreciate if you could leave a review! My mission is to help and support as many FinTech startups as possible, and when you leave a positive review, more people can find this podcast and help their companies! If you are on Apple, just <a href= "https://podcasts.apple.com/ch/podcast/compliance-that-makes-sense/id1535160531">click here to review</a>, select “Ratings and Reviews” and “Write a Review” and tell me what your favorite part of the podcast is. </p> <p><strong> </strong></p> <p dir="ltr"><strong>Today's episode:</strong></p> <p dir="ltr">[00:38] An overview of today’s topic: comparing the 2008 and 2023 crises. </p> <p dir="ltr">[00:56] The person who inspired this episode. </p> <p dir="ltr">[01:38] Causes of the subprime mortgage crisis of 2008. </p> <p dir="ltr">[02:58] How the more recent financial crisis differs from the previous one, according to Andrew Ross Sorkin. </p> <p dir="ltr">[04:20] The Credit Suisse case study.  </p> <p dir="ltr">[06:17] How banks often explain away their inefficiencies and failures. </p> <p dir="ltr">[07:06] What a conflict of interest is and an example of this concept in action. </p> <p dir="ltr">[10:12] Reasons why I believe the 2023 crisis is worse than the 2008 crisis.  </p> <p dir="ltr">[11:58] Why compliance and risk functions are often excluded from important decisions. </p> <p><strong> </strong></p> <p dir="ltr"><strong>Show links:</strong></p> <ul> <li dir="ltr" style="font-weight: bold;" aria-level="1"> <p dir="ltr" role="presentation"><strong>Interested in FinTech compliance? - consider investing in the <a href= "https://yana-afanasieva.mykajabi.com/offers/Xhz4DQyy">FinTech Compliance Self-Starter Package</a>!</strong></p> </li> <li dir="ltr" style="font-weight: bold;" aria-level="1