jerryking + reinventing_the_wheel   5

Yale to Build Tool Offering Real-Time Lessons on Financial Crises -
May 9, 2017 | WSJ | By Gabriel T. Rubin.

Yale University will launch an online platform to provide real-time support to policy makers dealing with financial crises, with the help of a $10 million gift from business leaders and philanthropists Bill Gates, Jeff Bezos, Bloomberg Philanthropies and the Peter G. Peterson Foundation.

The gift represents a major expansion of the Yale Program on Financial Stability, a degree-granting program in the university’s school of management that aims to train early- and midcareer financial regulators from around the globe.

The new resources will support a small staff of researchers, led by Professor Andrew Metrick, as they build a database of “lessons from hundreds of interventions from past crises,” the university said. The effort is the first of its kind, according to Yale, and reflects a need for more research on “wartime” situations, rather than the preventive sort of regulatory research done by central banks around the world. Central banks often avoid extensive crisis preparations out of reluctance to promote moral hazard, leaving policy makers to reinvent the wheel each time a new crisis arises.....Mr. Geithner, who serves as the chairman of the Program on Financial Stability, said that he and other policy makers would have been able to act faster and with greater confidence during the financial crisis with access to the tools that Mr. Metrick’s team will build.

“There were probably four or five periods when the crisis was escalating, the panic was spreading, sitting on the phone for 20 hours a day trying to figure out how to do things,” Mr. Geithner recalled. “And we hadn’t had to do some of those things since the Great Depression. That took us a lot of time, and that can be costly.”

The open online platform will include descriptions of specific interventions—for example, the use of a “bad bank” to hold distressed assets—and will detail what did and didn’t work well in each case.
Yale  Colleges_&_Universities  crisis  regulators  Walter_Bagehot  central_banks  real-time  databases  lessons_learned  policy_tools  Peter_Peterson  reinventing_the_wheel  policymakers  confidence  economic_downturn  decision_making  speed  the_Great_Depression  crisis_management  crisis_response  Tim_Geithner  moral_hazards  financial_crises 
may 2017 by jerryking
A Modern Approach to Open Data | Make government better, together.
October 01, 2013 by Ben Balter, GitHub.

Traditionally, consuming open government data required building and curating many custom tools and wrappers to convert the data from the form it’s exposed in to something more immediately consumable by civic hackers, watchdog groups, and the general public. Developers haphazardly wrote small scripts as one-off efforts and threw them away, or left their solutions buried inside larger infrastructure, reinventing the wheel with each new transparency initiative.

Developers from the Sunlight Foundation, GovTrack, and the New York Times, however, decided to join forces and break from tradition when they reached out to other civic-minded developers and “decided to stop each building the same basic tools over and over, and start building a foundation [they] could share.”
open_data  open_source  tools  self-organization  sharing_economy  reinventing_the_wheel  organizing_data 
december 2013 by jerryking
Ken Lombard, on Staying a Student of Business - NYTimes.com
By ADAM BRYANT
Published: July 6, 2013

When I go and speak to B-school students, the point I try to emphasize is, don’t stop being a student of the game. Don’t think that when you get out of this institution with your degree that now you walk on water. This should make you hungrier than you’ve ever been, because there are people who are coming out with fewer credentials who are very, very hungry....The time I spent working with Howard Schultz at Starbucks [as president of Starbucks Entertainment] was a tremendous learning experience for me in a lot of ways. He was very disciplined in that he was such a thorough and deep thinker, and would really commit to diving in and looking closely at any particular situation, and would turn over every stone. But he would not get stuck on the analysis side, and would have the guts to make the decision, and not accept the status quo....I’m a guy who comes from hard work, and I’m a guy who comes with an approach that says, before I make a tough decision, I want to be on the ground, I want to roll up my sleeves and understand the opportunity. While I understand that analysis tells you what you need to hear in how you need to structure a deal, there’s a difference between deal makers and analysts. Analysts can tell you everything wrong with the deal; the deal maker is going to try to figure out a way to come up with a structure that makes sense.

That doesn’t mean you should ignore what the numbers tell you, but you should try to figure out a structure that mitigates your downside. I try to make sure they understand that deal-making takes some guts. You can’t develop that in a short period. You have to be willing to go out and get the experience, and not think that this is going to happen for you overnight.

You can speed up the learning curve by positioning yourself in a way so people who have the experience want to help you. You have to make it conducive for them to really want to provide you with the information. Then become a sponge. That will help accelerate some of it. Go to someone who has done this before and try to get them to provide you with some guidance, so you’re not reinventing the wheel.
African-Americans  Magic_Johnson  commercial_real_estate  Starbucks  torchbearers  entrepreneur  dealmakers  deal-making  learning_curves  mentoring  life_long_learning  analysis  hard_work  Jason_Isaacs  risk-mitigation  staying_hungry  analysts  assessments_&_evaluations  playing_in_traffic  reinventing_the_wheel 
july 2013 by jerryking
Black script needs new players
September 5, 1991 | Share Newspaper | letter to the editor by Malcolm Streete in response to article by Dr. Sheldon Taylor (August 1, 1991).

If problems as seen by Taylor do exist, it was even more important for him to state that cannot be addressed concretely and effectively, until some respected and credible leadership forward with a strategy.
The tragedy engulfing this whole scenario is that in Metropolitan Toronto and regions, with the largest population of Blacks in Canada, we continue In deal controversy and failure in the same manner:
* Without plan or strategy;
* With moral goals, instead of tangible, physical goals; and
* With old faces. using outdated models. that alienate the new.
More importantly --and at the same time, very damagingly-- so many of us have become too socially and economically comfortable, and have deserted the community.
There is also the growing reality that we have begun to separate ourselves from those now arriving from the Continent of Africa, without recognizing the fact that they are beginning to make up a sizable part of our growing community.
Unfortunately for Black people in Canada. the dominant culture views us in an unchanging stereotypical manner, all painted with the same Black brush. Thus. we need to look for solutions in places we have never looked before.

When we see the changing demographics of both our community and the broader community. we see an expanding pool of resources.

Firstly. there are the young, articulate and energized females and males, who are more than capable of giving our aims directions, strategies and visions.

Next. with the older torch-bearers passing the torch to this new ‘and important younger generation. we can act as an ocean of resources, sharing our experiences, knowledge. contacts and financial

Finally, let us get our act together and build a cultural centre, through which we can begin to exert some kind of control over our politics, education, economics and destiny.
letters_to_the_editor  African_Canadians  reinventing_the_wheel  Toronto  self-help  revitalization  leadership  institutions  community  renewal  self-reliance  institution-building  complacency  demographic_changes  strategic_thinking  Sheldon_Taylor 
august 2012 by jerryking
Wealth must be created on a personal level
January 25, 2010 | Stabroek News | by Michael Maxwell. "The
public sector of a poor nation where your next raise is determined by a
clueless government pandering to ethnic concerns is no place to be
hanging your hat for the future, despite your lionhearted service.

There must be a return of the innovative African Guyanese whose vision
of the future is bold enough to know that he has to recast himself into
finding the comfort and security of wealth in a nation where ethnic
economic marginalization rules. As one blogger aptly stated in response
to my January 8 letter, African Guyanese are always starting and
starting over in many of this nation’s economic endeavours. That is a
spirit-crushing struggle for any people. African Guyanese capitalism
does not necessarily have to be on a massive commercial scale, but it
should be sufficient to afford quality wealth and economic security. To
hell with political marginalization."
economic_development  Guyana  reinventing_the_wheel  Afro-Guyanese  letters_to_the_editor  wealth_creation  self-determination  self-discipline  self-employment  self-help  public_sector  generational_wealth  marginalization  personal_economy  spirit-crushing  soul-sapping  struggles  financial_security 
january 2010 by jerryking

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