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Senior SEC Employee Warns of Potential Municipal Bond Market Collapse
Economic Policy Journal
April 7, 2010
Rick Bookstaber, who is a a Senior Policy Advisor to the Director of the SEC, Mary Schapiro, continues to maintain his own private non-SEC affiliated blog.
Prior to joinning the SEC, Bookstaber served as the managing director in charge of firm-wide risk management at Salomon Brothers, director of risk management at Moore Capital Management, and Morgan Stanley’s first market risk manager. He is the author of three books and a number of articles on finance topics ranging from option theory to risk management, and has received various awards for his research. He holds a Ph.D. in Economics from the Massachusetts Institute of Technology.
On his blog he writes that he doesn’t think:
…we will see a big crisis emerging for some time in banks, hedge funds or derivatives, mostly because, like with a knockout punch, the risks that matter don’t come from where you are looking…
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