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Philip Maymin
Philip Maymin
Assistant Professor of Finance and Risk Engineering , NYU School of Engineering
How Good Intentions Increase Systemic Risk
How Good Intentions Increase Systemic Risk
If only politicians were smarter, regulators tougher, and bank executives less greedy. If only individual investors didn't make mistakes. If only we could tweak just a few things in our economic systems, the traditional thinking goes, we could avert the next financial disaster. It turns out that mindset is completely wrong. No matter how well-intentioned, all such efforts will not only fail, but ultimately backfire and make things much worse. In this lecture, Maymin will show how any attempt to regulate financial risk will necessarily increase systemic risk. Regulations that genuinely try to make us safer actually cause more devastating disasters than would otherwise ever occur.
The Tangled Vine
434 Amsterdam Avenue
New York, NY 10024, USA
Bio
Philip Z. Maymin was a hedge fund portfolio manager at Long-Term Capital Management, Ellington Management Group, and his own hedge fund. He has also been an award-winning journalist, a policy scholar for a free market think tank, a Justice of the Peace, an attorney-at-law admitted to practice in California, and a Congressional candidate in Connecticut. He is the author of four books and more than twenty journal articles. Maymin is the founding managing editor of Algorithmic Finance. His research has been profiled in the New York Times, the New York Post, the Wall Street Journal, USA Today, Financial Times, NPR, BBC, CNBC, and other global outlets.