Tag Archives | Basel Accords
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Market Makers’ Dilemma

October 11, 2007

One of my clients deals in a specialty commodity. They source the commodity, process it, and then sell it in local markets around the world. In some local markets, my client is a two-bit player. In others, they are the market maker. In those markets, they largely set the price of that commodity. Unlike a [...]

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Race To the Bottom

May 3, 2007

In recent months, a number of studies have been released addressing the question of whether burdensome US financial regulations are making US financial markets less competitive—driving fledgling corporations to go public in other, more lightly regulated jurisdictions. The first study was released last November by a recently formed Committee on Capital Markets Regulation (CCMR). Another [...]

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Milton Friedman: A Lesson in Positive Risk Measurement

November 24, 2006

I woke up in a London hotel last Friday, sleep deprived and just aching for some real American coffee. I nibbled my black pudding with fried tomatoes and glanced at the Financial Times. Milton Friedman had died. Friedman is best known for his advocacy of monetarism, a mistake that irrevocably associated him with the gyrating [...]

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Inaugural Article

October 12, 2006

Ask a practitioner of the origins of financial risk management, and he might say it emerged in response to financial blow-ups of the early 1990s. Or he might say it emerged out of efforts by the Basel Committee to standardize bank capital requirements globally. Or he might say it emerged from efforts by banks to [...]