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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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Posted by Jim 3425 03:21 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.
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About Joseph N. DiStefano
Joseph N. DiStefano writes this blog to feed his PhillyDeals column, which is printed in the business pages of The Philadelphia Inquirer every Sunday, Tuesday, Wednesday, Thursday and Friday. Joe has worked at the Inquirer, mostly, since 1988. He has also written for Bloomberg and Gannett, authored the book Comcasted, majored in economics at Penn, and fathered six children. Reach Joe at 215-854-5194 and JoeD@phillynews.com

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