The fourteenth lecture of the course about on speculation. Pro (LoL) and contra.
The author whose name I unfortunately don’t remember during the lecture: Donald MacKenzie, An Engine, Not a Camera. How Financial Models Shape Markets, Cambridge (Mass.) : MIT Press 2006… Read the rest
Twelfth lecture of the « Stewardship of Finance » chair. It is the notion of risk and the different forms of risk sharing which allow the building of a reasoned catalogue of all types of financial instruments and analysing them in an ethical perspective.
Is it admissible that taxpayers were required not only to pay for all the losses due to defaulting borrowers but also for all the bets between financiers which turned sour (a larger amount by a factor of ten)?
We learned on Tuesday that the fifth largest British bank, Standard Chartered, had promised the New York State regulator that it would pay a fine of 340 million Dollars for illegal transactions with Iran. The matter is not yet closed, as four other American regulatory bodies continue to pursue their enquiries on this subject.
There was a danger that the affair, dating back to last week, would get bogged down, and it had already started to poison relations between British and American financial authorities (to which I alluded in my article on … Read the rest
An English translation by Bernard Bouvet of my « QUOI QU’ON FASSE, CE SERA LA MÊME CHOSE ! » of March 11.
77% of you, my dear blog readers, not all of you, but a “comfortable majority” of you, happens to be French. Your country is now in full “election showbiz” mode, and the mainstream media, in the press, on the radio, on television, are full of it, news on why the moment is “crucial” and “how to vote”, are front and centre.
Still, you are perfectly conscious of the fact that whatever which way you vote, either for … Read the rest
What have we learnt so far from Jérôme Kerviel’s trial about the big questions? Do his superiors know more they pretend about the transactions he was doing? Another question we would like to know the answer: is entering fictive operations in the reporting system to hide his positions –as Kerviel says– a common manoeuvre in the traders’ world?
Is it because I had the opportunity to be a trader on futures markets that I … Read the rest