Cezary Podkul

speaker

149 appearances 3 recordings 1 series first heard Mar 2018 last heard Jan 2020

Cezary Podkul’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · What's Changed Since the 2008 Recession? · 28 Mar 2018 podcast

And nothing ever, you know, it just never took a pause.

And so it's now over $1.3 trillion.

You know, since the crisis, student loans have overtaken credit cards and auto loans.

It's really a huge area of borrowing for young people, and many of them can't repay these loans.

So that's a huge potential red flag for consumers and the economy coming up.

And it's going to be interesting to see how this plays out because it definitely has many similarities to the subprime crisis from pre-2008.

So we do have an Office of Financial Research at the U.S.

Treasury now that's supposed to keep an eye out for potential risks in the economy.

We had a story, our colleague in Washington, Ryan Tracy, had a great story on that the other day.

And, you know, and Washington in general is trying to keep an eye out for potential risks.

One of the risks they do flag is cybersecurity, which is something we didn't have to deal with 10 years ago.

So Washington is more on the lookout for these potential risks.

But the weakness may be in actually, you know, getting ahead of them and putting together, you know, procedures, rules, protocols, whatever, to deal with them.

So I think that's still where the weakness lies.

But in general, there is more oversight.

The Federal Reserve has more bank field examiners out there.

Banks are certainly under more scrutiny.

Whether that's going to stay there or be dismantled in this regulatory rollback that some in Washington have been promising is anyone's guess.

But banks are definitely under more scrutiny today than they were 10 years ago.

That's one of the big potential areas of risk is companies have more data than ever before on individuals.

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