Abstract
Why are we in a financial crisis and how do we get out of it?
The “why” can be simply explained: there is little confidence in balance sheet valuations because too many assets are overstated, too many liabilities are understated, and too much information is hidden. The crisis has spread due to a systematic failure of the regulatory system. Over the last 20 years regulations that fostered market stability were eliminated, and new financial instruments were allowed to propagate without any real oversight.
Page
6-7
Year
2008
Categories
Actuarial Applications and Methodologies
Enterprise Risk Management
Publications
Risk Management: The Current Financial Crisis, Lessons Learned and Future Implications
