Wall Street & Technology is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Risk Management

10:52 AM
Connect Directly
Facebook
Google+
LinkedIn
Twitter
RSS
E-Mail
50%
50%

Volcker Speaks Out On Financial Innovation (video)

"I have been on boards of directors. The chances that they're going to understand these products that you're dishing out, or you're going to want to explain them, frankly, is nil. Wake up, gentlemen."

In this WSJ video, economic adviser Paul Volcker gives his views on financial innovation: "I hear about wonderful innovation in the financial markets. But I'll tell you too, credit default swaps and CDO's took us right to the brink of disaster. Were they wonderful innovations we want to create more of? You want boards of directors to be informed about all these innovative products, and understand them. I don't know what boards of directors you're talking about. I have been on boards of directors. The chances that they're going to understand these products that you're dishing out, or you're going to want to explain them, frankly, is nil. Wake up, gentlemen.""I have been on boards of directors. The chances that they're going to understand these products that you're dishing out, or you're going to want to explain them, frankly, is nil. Wake up, gentlemen." Melanie Rodier has worked as a print and broadcast journalist for over 10 years, covering business and finance, general news, and film trade news. Prior to joining Wall Street & Technology in April 2007, Melanie lived in Paris, where she worked for the International Herald ... View Full Bio

Register for Wall Street & Technology Newsletters
Video
Inside Abel Noser's Trading Floor
Inside Abel Noser's Trading Floor
Advanced Trading takes you on an exclusive tour of Abel Noser's New York trading floor, where the agency broker known for transaction cost analysis, is customizing algorithms for the buy side, while growing its fixed income trading and transitions business.