Yes, there is greed on Wall Street and most likely on your street too, but if we collectively attribute the current financial crisis to “devious intent,” we may be condemned to relive it. That’s the opinion of Bengt Holmstrom, a 1978 PhD alumnus of the Stanford Graduate School of Business who is currently the Paul [...]
Tag Archive 'derivatives'
Professor Darrell Duffie argues that redesigning the U.S. financial system after the current financial crisis will focus on creating financial stability. “Most of us thought we had it, but we did not,” he notes.
Panel discussion ran the gamut from how the U.S. got into this mess; how this crisis fits in with past credit crises; and whether the financial sector is really sufficiently “different’’ than the rest of the economy to warrant a $700 billion rescue courtesy of the American taxpayer.