The Cyprus Financial Crisis was a devastating blow to Cypriots and halted their banking system. Banks closed for two weeks to prevent a banking panic. When they reopened, capital controls were placed on the people's money, and customers were met by armed guards at the branches.

There are downsides to implicitly trusting banks, as the 2008 financial crisis showed.

Through decentralized cryptography, Bitcoin eliminates the need for banking intermediaries, significantly lowering transaction costs, and could liberate poverty-stricken economies around the globe by providing access to capital to the one-third of humanity that is excluded from the financial world.

One of the big problems we had during the financial crisis was the intermingling of banks and holding companies and complex securities.

Managing and navigating through a financial crisis is no fun at all.

A clear lesson of history is that a 'sine qua non' for sustained economic recovery following a financial crisis is a thoroughgoing repair of the financial system.