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What is intermediation about?
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He says, "It's about intermediation, it's about bringing together industry leaders to leverage their strengths" and help consumers.
Whether or not such intermediation brings about prosperity depends on: n how heavily the government taxes; n how taxation affects people's behavior; and n how politicians use the taxes they extract.
Investment banking should not be about gambling but about honest Vermittlung, financial intermediation built on client relationships, not speculative trading or fleeting transactions.
In general, financial-sector debt is about the internal organization of intermediation, and it's not the same kind of thing as when households or business run up a lot of debt.
And yes, the people who talk about the next new thing are talking about re-intermediation.
GLOBAL financial intermediation is broken.
Eighty percent of financial intermediation goes through the banking system.
Before 2008 subprime mortgages had long, diffuse chains of intermediation.
Moreover, wages in "other finance" skyrocketed relative to those in credit intermediation.
This concept of "authorized intermediation" simplifies the government's regulatory burden.
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