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Thursday, November 20, 2008

Should the feds treat bank crashes like plane crashes?

After hedge fund managers  preened for Congress last week, MIT professor Andrew Lo made a provocative suggestion: He wants to see a sort of Capital Markets Safety Board, modeled loosely on the National Transportation Safety Board, to thorougly investigate, sensibly fix and rapidly communicate the causes, cures and preventions of financial disasters.  Summary of Lo's testimony here. The whole testimony here. Thanks to reader Charlie Godwin for sending David Warsh's newsletter, Economic Principals, highlighting Lo's idea. Read about it here.
Posted by Joseph N. DiStefano @ 2:50 PM  Permalink | 1 comment
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  • 0 like this / 0 don't   •   Posted 3:21 PM, 11/21/2008
    Professor Andrew Lo has a great idea. I would hope that Business Schools have a sort of "Post Mortem" type of class, but that might take years to deliver.
    — Jim 3425


1 comments
About Joseph N. DiStefano
Joseph N. DiStefano writes this blog to feed his PhillyDeals column in the Philadelphia Inquirer. Joe has been a member of Bloomberg LP’s New York Finance Team, wrote the book “Comcasted,” taught writing at St. Joseph’s University, and studied economics and history at Penn. Reach Joe at 215-854-5194 and JoeD@phillynews.com
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