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Bloomberg.com'm Tracey. Hello, and welcome to another episode of The Odd Thoughts Podcast. I'm Tracy Allaway.

And I'm Joe Wiesenthal. So Joe, one of the themes that I think has been popping up

quite a bit on recent episodes is this idea of

this sounds really trite but opportunity in crisis or this idea that we're facing big, big economic devastation,

but maybe there's some sort of hidden opportunity

or even very obvious opportunity

to remake the economic system or improve

the financial system at the same time.

Yeah, I think that's right.

I mean, I, yeah, I think that has been a theme in this idea that there are a lot of policies and we've sort of talked a lot about fiscal

policies or monetary policy but there's all kinds of trends that have been

going in one direction and people are questioning have they reached their end point as a society as an economy

do we need to make some sort of like meaningful turn in a different direction.

Right and times of crises tend to be when we also see new innovations in the market specifically.

And I'm thinking about one in particular back in the 1990s immediately after the savings and loan crisis

There is a shortage of capital going into commercial real estate

Fast forward a few years, and someone invented commercial mortgage-backed

...