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Streetwise Professor

June 26, 2009

SWP in the Economist

Filed under: Derivatives,Economics,Exchanges,Financial crisis,Politics — The Professor @ 3:01 pm

I was quoted in this week’s Economist in an article raising doubts about whether OTC clearing is all that it is cracked up to be.  It is good to see good reporters at reputable publications chipping away at the happy talk conventional wisdom surrounding clearing.  The last sentence in the piece is especially important, and poses a question I’ve often asked here at SWP: “If the benefits of CCPs in OTC markets are so overwhelming, why did they not emerge on their own?”  Kudos to Adam Creighton and the Economist.

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2 Comments »

  1. Well done, that’s quite impressive.

    How do I get quoted in the Economist?

    Comment by Sublime Oblivion — June 27, 2009 @ 9:12 pm

  2. Thanks, S/O.

    Here’s a sufficient, but probably not necessary, condition: Work for more than a decade on an obscure subject that is of great interest to a very small group of practitioners, but completely ignored by your academic peers. Wait for a crisis that makes this subject the center of major proposals to address the root causes of said crisis. Take a contrarian view on the efficacy of this solution. And check your voice mail while you’re traveling. LOL.

    And perhaps you need to be a member of the Neoliberal cabal;-)

    The ProfessorComment by The Professor — June 28, 2009 @ 3:51 am

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