July 2011
Intermediate to advanced
304 pages
8h 11m
English
Content preview from The Devil's Derivatives
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CHAPTER FIVE
Regulatory Capture
Back in the 1980s, Fed chairman Paul Volcker decided banks needed a “speed limit” to curb their risky lending practices, but the large, sophisticated banks created collateralized loan obligations (CLOs) to evade the new rules. Volcker’s successor, Alan Greenspan, argued that regulators should not impede the investment innovations, and in 1998, new rules loosened the restraints on the big banks. It was soon obvious, however, that regulators didn’t have the skills or power to prevent banks from abusing the system. Given a last chance to tighten the rules in 2005, they blew it.
The Speed Trap
Looking back from today, years after the 2007–2008 crisis brought the banking system to a halt, a question often asked is, ...
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I wanted to learn C and C++, but it didn't click for me until I picked up an O'Reilly book. When I went on the O’Reilly platform, I was astonished to find all the books there, plus live events and sandboxes so you could play around with the technology.Addison B.
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I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.