Technlogy

Technology Changing the World, Banking and Supervision Its been utter that information is power. Whoever said that surely never had to deal with the flood of e-mail intimately of us receive each day. Indeed, with increasing frequency, the complaint straightaway is about information overload. With radio set communications enabling us to conduct business anytime, anywhere, I sometimes feel, as Im sure many of you do, that no matter where I am in the world, Im expected to be awake and working. For those who occasionally feel overwhelmed by technologys marvels, its worth remembering that there was a time, and not so long ago, when reliable market information was unquestionably scarce and concentrated in the hands of a inner few. The Rothschilds built an international banking empire on the wings of flattop pigeons, whose messages enabled the brothers to buy and sell on information about investment opportunities or fiscal disasters in distant places long before their competitors heard the news. Today, information of all kinds is transmitted easily, inexpensively and directly around the world, providing finger-tip access to anyone with a laptop computer, cellular promise or palm pilot.

As but one example, Id mention that, as of last month, the most general items on the Federal Reserves public net site including statistical reports on foreign exchange rates, selected quest rates, consumer credit and industrial production, along with press releases and Federal brusk Market Committee announcements are accessible by wireless remote. If information is power, and it surely is, then a profound and permanent transfer of power is underway in the global financial marketplace from providers of products and services to consumers. For example, the Internet something most of us had never heard of five years ago is changing how consumers let on for financial products and services, the prices they pay, and with which providers they establish relationships.... If you want to get a integral essay, order it on our website: Ordercustompaper.com

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