economistsview.typepad.com - 11/6/2008
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This doesn't inspire much confidence:
You may make a mess, but please don't try to clean it up by Barbara Kiviat : It's hard to believe, but people are
starting to express outrage over the New York Fed
hiring the former chief risk officer of Bear Stearns to help supervise
banks. To ...
businessweek.com - 11/5/2008
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businessweek.com —
JUNE 12, 2006 COVER STORY Inside Wall Street's
Culture Of Risk Investment banks are placing bigger bets...
than ever and beating the odds -- at least for now On the 31st floor of a skyscraper overlooking Times Square one recent spring day, a dozen or ...
(more)
Inside Wall Street's Culture Of Risk
clusterstock.com - 11/4/2008
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clusterstock.com —
FederalReserveCommercialPaper.jpg In a move that is sure to
put to rest the notion that there are no...
second acts in American life, former Bear Stearns chief risk officer Michael Alix has landed a job in the office of the Federal Reserve charged with ...
(more)
Fed Hires Bear Stearns Risk Boss
bloomberg.com - 11/10/2008
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bloomberg.com —
Commentary by Caroline Baum Nov. 10 (Bloomberg) --
Let’s say you were the chief risk officer of...
the former Bear Stearns Cos. in the two years preceding the bank’s collapse in March. And let’s say, just for argument’s sake, that the postmortems ...
(more)
Bear Stearns Risk Manager to Guard New Henhouse: ...
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Blog Reactions
The American Financial System is Not a Meritocracy
Toro's Running of the Bulls Market Blog —
... mark-to-market and would expect to treat virtually all
business lines as part of the trading book. Mark-to-market accounting
forces firms to immediately recognize changes in the risk profile of
any position or business, and to take timely action to reallocate
capital to address problems or opportunities.
This, we now know, not only didn't work so well, but is also, we're told, causing a lot of the problems we're having. Stunning. Via Economist's View.
In Which I Say Something Nice about Lawrence Summers
Angry Bear —
... This seems preferrable to selecting a man who hired the fox to guard the henhouse after the fox's theories had already been shown to fail. ...
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