nntaleb: Why did the CRISIS Happen?
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1666042
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Abstract:
This paper —while a standalone invited essay written for a special crisis issue of New Political Economy — synthesizes the various technical documents by the author as related to the financial crisis. It can also be used as a technical companion to The Black Swan(2007-2010).
Keywords: Black Swan, Risk Management, Finance, Markets, Crisis
nntaleb: The Bed of Procrustes: Philosophical & Practical Aphorisms”, N N Taleb (of Amioun), c. Jan 2011 www.fooledbyrandomness.com/aphorisms.pdf
nntaleb: @felixsalmon sees with clarity: http://blogs.reuters.com/felix-salmon/2010/08/16/the-mess-that-is-deposit-insurance/
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JohnH- Excerpt from the article:
The product in question is CDARS, and Blinder is a founder of the company which invented them. When Blinder wrote an op-ed complaining about an attempt to broaden deposit insurance, I was underwhelmed, writing that “Blinder has a massive conflict: he’s the vice-chairman of the company which runs CDARS, a financial instrument designed solely to get around FDIC deposit limits.” Without deposit limits, of course, CDARS become moot, and Blinder loses a large chunk of income.
nntaleb: Forget 2300 p of reg; problems are cured at the source with the RISK GOLDEN RULE: “Captains go down with ships, all captains & all ships”.
nntaleb: Why Deficits are dangerous (concave) I explain here: http://www.fooledbyrandomness.com/OxfordBTLecture.pdf