With many economies suffering from stagnation and poor fundamentals, the low cost and rapid expansion of dollar financing in the early 1990s and the subsequent restriction, together with the more recent monetary expansion in Japan and loss of value of the yen, have probably contributed to the instability of the global market for finance.
*  *  *  Good afternoon everyone and congratulations to all the students and mentors who are part of the FINEX-JP Morgan Chase 16th Inter-Collegiate Finance Competition or ICFC. I learned that 100 teams from finance schools across the country competed to join the 20 finalists this year. This year therefore had the highest school participation in ICFC’s 16-year history.