Some industry experts argue the credit crisis didn't have to happen. Simply put, an overdependence on technology and absence of judgment fanned the flames that have burned investors and taxpayers alike. A hybrid approach combining all that technology has to offer with expert human judgment across risk silos could be what industry players need to ensure that history does not repeat itself.

The current financial crisis has popped a few popular myths about the financial system. There was a fairy tale, for instance, that Fannie Mae and Freddie Mac were not backed by the U.S. government, and another that depositor discipline - the ability of depositors to penalize (discipline) banks for poor performance by withdrawing deposits-is healthy for the system. It turns out bank runs aren't so desirable.

Last month the G7 started picking up the pieces of the global financial system and trying to put them back together again. Even so, the credit hangover will be fierce.

First Bank and Trust, in partnership with the New Orleans Saints and the team's head coach Sean Payton, is helping to rebuild in New Orleans.

More customers are seeking out community banks that will retain their mortgages. For banks willing to service these loans, there's an ideal opportunity to deepen relationships and cross-sell products.

Big banks still have the lion's share of the small-business market, but community banks are quickly gaining ground. There are good reasons to believe that trend will continue.

Fifth Third Bank has been active in opening de novos and acquisitions. To build brand awareness, it's giving away money.

Today's economic mess has led to plenty of finger pointing, but the failure of risk management models is surely a prime culprit. As it turns out, however, a fair number of risk managers were warning about the stability of financial derivatives.

The federal push to protect cardholders from unscrupulous credit card issuers could force some issuers to abandon high-risk customers who will otherwise turn to payday lenders and the like

Bank of America's acquisition of Merrill Lynch is likely to shake up the high-net-worth credit card market. But so far all the major issuers are playing their cards close to the vest.

Turns out Barclays dodged a bullet by losing in its bid for ABN Amro last year. Now, thanks to its acquisition of Lehman, it's emerged a power player in America, heavy on M&A and trading

The company's acquisition of Diners Club International is a vital part of its global payments strategy. It's no wonder: In Japan, the Diners Black card commands a $1,200 annual membership fee.

We can either let this cycle define us, or we can define the future that's on the other side of this cycle. How we act will determine our ultimate success as leaders.