There are two key aspects to President Obama’s banking reform:
1) It attempts to address the ‘too big to fail’ debate: Obama wants to place size limits on banks (although it is still unclear what these are). This should create a wave of divestments and carve-outs in the banking industry.
2) To break up [Read more...]
My initial reaction at being handed the opportunity to review Riccardo Rebonato’s 2007 work on financial risk, Plight of the Fortune Tellers, was one of enthusiasm (the name’s not Risk Watchdog for nothing). However, while the book proved insightful, I realised early on that I was reading it two years too late.
Prior to Lehman’s 2008 [Read more...]
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