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Predicting the Next Banking Crisis Is a Fool’s Game. Not Learning From the Last One: Equally Foolish

Jeff For Banks

The old borrow short, lend long strategy. Economists cite as the main culprit the collapse of the subprime mortgage market — defaults on high-risk housing loans — which led to a credit crunch in the global banking system and a precipitous drop in bank lending. To fight inflation, the Fed raised rates aggressively (familiar?).

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Fintech Fundings: 15 Companies Raise $125 Million Week Ending May 1

Fintech Labs Insights

Payments via social media. HQ: Chatham, NJ. Tags: Peer-to-peer, P2P, lending, investing. Total raised: $1 million. Source: Crunchbase. Prepaid mobile wallet for fundraising. HQ: Grand Rapids, Michigan. Latest round: $900,000 Seed. Total raised: $1.5 Source: Xconomy. HQ: Santiago, Chile. Latest round:$100,000 Accelerator.

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Bitcoin Daily: US Treasury’s Mnuchin Says ‘Significant’ New Crypto Rules In Works; Spain’s FC Barcelona To Create Team Token

PYMNTS

Chiliz has created a coin called Barca Fan Token due to its partnership with the Spanish sports giant, which can be used on its social media app Socios. Meanwhile, a Peter Thiel-backed venture fund , Valar Ventures, lent a hand in a $30 million second round of financing for crypto trading and lending platform BlockFi.

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Banker Quotes: As Told To Me v6

Jeff For Banks

Bank SVP: the mortgage lending business is like a shark. Maybe social media is happening outside of the Marketing Department. NJ Banker and West Pointer Norm Beatty quotes Stonewall Jackson: "Never take counsel of your fear." Bank Exec: The mortgage business only has a 30-day business plan. This banker does.

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