Streetwise Professor

May 12, 2009

Hopefully Not an Omen

Filed under: Economics,Financial crisis — The Professor @ 6:35 am

When Ben Bernanke started to speak last night, it began to thunder and lightning.  Could be just a coincidence, but . . .

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  1. I noticed that the SWP was a panelist in the “Standardization and Clearinghouses as Tools for Lessening Systemic Risk” discussion. I am curious to know what the pro-clearinghouse panelists had to say on the matter.

    Comment by Surya — May 12, 2009 @ 5:46 pm

  2. That would be me;-) Thanks for noticing, Surya. Will try to respond in detail tomorrow.

    Let us say . . . I was not persuaded.

    The ProfessorComment by The Professor — May 12, 2009 @ 9:05 pm

  3. When did the SWP flip flop on this issue! I guess the ICE guy was against it, since the ICE platform probably handles most of the OTC stuff. But then if there is a possibility that ICE could provide the technical infrastructure then perhaps they might support the idea. It would also be interesting to know what the MD from JPM had to say. It might be an indicator of the risk JPM has taken so far. A no for clearing would indicate they dont see a reduction in private cost and an yes would mean they have estimated that their positions are riskier than that of the other participants. So I guess, JPM most likely took a non committal stance.

    Comment by Surya — May 12, 2009 @ 10:42 pm

  4. OMG! This was too funny.. Continue on.. but what?

    Comment by Reverse Lookup — May 13, 2009 @ 10:38 am

  5. @Reverse Lookup– But . . . I fear that it was.

    @ Surya. Never flopped. Running for a plane. Will follow up later. Dunno even where you got the idea I flip-flopped. Look at my piece in the January issue of Regulation Magazine.

    The ProfessorComment by The Professor — May 13, 2009 @ 3:47 pm

  6. It was a joke 🙂 “what the pro-clearinghouse panelists had to say” – “that would be me”. I know your reply was to the first sentence of my comment. But, I found my misinterpretation funny.

    Comment by Surya — May 13, 2009 @ 4:22 pm

  7. @Surya–yes, it was funny. Sorry for being so literal;-)

    The ProfessorComment by The Professor — May 13, 2009 @ 9:14 pm

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