by Ricky McRoskey

In finance, things change. Forty years ago you couldn't buy a futures contract based on a currency, 25 years back the first collateralized debt obligation hadn't hit the market, and two years ago subprime wasn't a curse word on Wall Street.

But investors-and the folks who make money by packaging new investment products-always seem eager to move on to the next big thing. If financial history has taught us anything, it's that change is inevitable-change in everything from the way banks package risk, to the way governments regulate savings institutions, to the ways consumers can invest their savings. And with the recent upheavals in equity and fixed income markets, the financial industry is left to ponder: What change is next? What will the financial world look like in 2020?

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Posted by boyang at August 14, 2008 6:39 PM