The Central Bank should have a permanent window for discounting high quality securities where banks could go and discount these. It gives peace of mind to the banks. In the absence of this facility, what banks tend to do is to keep a liquidity cushion for emergency requirements. This is a very expensive way of managing liquidity.
I've been through a lot of different situations, and the key thing I've learned is: Don't panic. That's the advice I give people. If anaphylaxis occurs, just do the necessary things. If it's your first time, call and seek emergency assistance and find out exactly what's happening. Get help.
Our world faces a true planetary emergency. I know the phrase sounds shrill, and I know it's a challenge to the moral imagination.
Like myself, President Obama is the father of two daughters. He understands the obstacles that they face as women, but he also understands the emergency of the state of young black men in America.
The majority of them give the impression of being men who have been drafted into the job during a period of martial law and are only waiting for the end of the emergency to get back to a really congenial occupation such as slum demolition or debt collecting.
I was kind of the comic relief in my household. We had a chronic illness in the family. And so, a lot of emergency room visits, and my role was to be silly and add levity, and we're Jewish. So every Passover is a performance. You kind of learn to role play and do voices at the Passover Seder.
For most companies, they don't want to ever talk about security unless it's an absolute emergency and they've had a breach. And I think that's a mistake.
Unless it's really an emergency, I'm not going to bother you. And you can see people chafe at that. 'You're in the same office and instant-message each other? Why don't you just walk over?' That's the perfect example of how ingrained the status quo is. To certain people, it may seem lazy, but I would argue it's much more efficient and considerate.
Anyone who's ever been around an emergency in Manhattan realizes that there are plainclothes officers on these streets walking past us more than we ever realize.
Our role is to develop techniques that allow us to provide emergency life-saving procedures to injured patients in an extreme, remote environment without the presence of a physician.
