Ms. G lived alone in an apartment in New York City. In her seventies, Ms. G was starting to show signs of physical frailty, impaired vision, and forgetfulness. She was also beginning to …
Conduct that is consistent with correlation-seeking played a central role in the 2008 financial crisis, causing the deep losses suffered by the three firms to receive the biggest bailouts …
Payment, clearing, and settlement systems constitute a central component in the infrastructure of financial markets. These businesses provide channels for executing the …
Financial interests in business enterprises are becoming more complex. No longer necessarily content to offer, sell, buy or hold traditional debt and equity interests, business …
Bankruptcy misallocates cash during a financial crisis. When a firm files for bankruptcy, cash becomes trapped in its bankruptcy estate, often for years. Meanwhile, payments to the firm's …
The conventional wisdom is that derivatives are exotic and uniquely risky, although innovative, financial instruments. That perception has given rise to a regulatory patchwork …
Is hedging with credit derivatives always beneficial? The benefit of hedging with credit derivatives, such as credit default swaps, is presumed by the Dodd-Frank Act, which …