Peter J. Solomon on Future Financial Crisis', Fed, Retail

Peter J Solomon discusses his career in investment banking and government, his book on balanced living, and insights into the 2008 financial crisis. He highlights the complexity of modern finance, the impact of global connectivity, and the evolution of the retail industry. Solomon also reflects on opportunities in government and the challenges of maintaining a good reputation in public service.

What is the main theme of Peter J. Solomon's book 'Wasting Time Constructively'?

• A guide to financial investments

• A guide to a balanced life

• A critique of modern banking

• A history of Lehman Brothers

What does Peter J. Solomon suggest about financial crises in capitalist systems?

• They are a result of technological failures

• They are caused by government policies

• They are endemic and complex

• They are rare and easily preventable

Why did the 'London Whale' incident occur under Jamie Dimon's leadership?

• Lack of risk management criteria

• Changes in risk parameters went unnoticed

• Inadequate financial resources

• External economic pressures

How has globalization affected financial markets according to the discussion?

• It has increased market connectivity

• It has reduced the role of central banks

• It has made markets more isolated

• It has simplified financial transactions

What role does the Federal Reserve play in international trade according to the transcript?

• It increasingly considers international trade

• It focuses solely on domestic issues

• It only responds to political pressures

• It ignores international trade

What motivated Peter J. Solomon to transition from investment banking to government?

• A lack of opportunities in banking

• Encouragement from Pete Peterson

• A desire for higher income

• A personal interest in retail

What is Peter J. Solomon's view on the future of department stores?

• They will completely disappear

• They will remain but in fewer numbers

• They will merge with online platforms

• They will dominate the retail market