The reality is that among all the banks, investors, academics and policy-makers, only a handful were able to identify ahead of time the causes and potential scale of the crisis. 1 Central banks, ministries of finance and international financial institutions all believed either that risks were being adequately managed or that vulnerabilities lay elsewhere. Around the world, private banks exceeded their regulatory capital requirements.
In 4 / 11  BIS central bankers' speeches  particular, we generally expect that search results will be included and ranked based on what’s organically most responsive to the search—unless it is clearly labeled otherwise.36 Accordingly, when we search for a product, we now know to look for visual cues that identify paid search results, usually in the form of a text label like “Sponsored” or “Ad", different formatting, and visually separating advertising from natural search results.37 Even when an endorsement is made in a brief Twitter update, we now expect disclosures to be clear and conspicuous.38 As fintech advisors evolve to engage consumers in new ways, disclosure methodologies will no doubt be expected to adapt as well.