On March 26, 2015, Eric R. Fischer, Senior Fellow at the Boston...
A Pardee House Seminar
April 12th, 2013
12:00PM – 1:30PM
Lunch will be served at 11:30AM
March 26th, 2013
4:00PM – 6:00PM
Kenmore Classroom Building
565 Commonwealth Avenue
From The Financial Times
December 27, 2012
Alongside the various FT correspondents around the world, beyondbrics plays host to a wide range of guest writers, among whom you’ll find business leaders, academics, market insiders and politicians – and this year, particularly of from Russia.
Which contributions did our readers like the most? Here are the top 10 most read guest posts of 2012…
2. Why Ocampo – not Kim – should be next World Bank president: Another intervention in the World Bank president debate, this time from Kevin P Gallagher of Boston University. He backed José Antonio Ocampo, the former finance minister of Colombia. “If the decision is finally based on merit”, he said, “Ocampo will win”. He didn’t…
Read the full article at FT.com.
Subsidy needs to be quantified, say William Isaac and Cornelius Hurley
January 17, 2013 6:46 pm
By William Isaac and Cornelius Hurley
Senators from opposite ends of the US political spectrum are finally asking the question that should have been answered before Dodd-Frank became law: how big is “too big to fail”?
Democrat Sherrod Brown and Republican David Vitter have asked the General Accountability Office, the investigative agency of the US Congress, to quantify the subsidy too big to fail banks receive from what are in effect taxpayer guarantees.
The subsidy is the funding advantage that the banks receive because their creditors know they will be made whole in the event of financial stress, just as creditors were during the financial crisis.
The drafters of the Dodd-Frank Act rarely stopped to consider the subsidy. Rather, they tried to prevent the next systemic failure with a fusillade of regulatory weaponry: elevated capital and liquidity standards, living wills, new resolution regimes and highly intrusive regulation. This approach ignores how market discipline is the essential tool in controlling risk-taking. The failure of a business must always be a realistic option.
Based on a growing body of academic literature, we believe the GAO will affirm that the too big to fail subsidy is larger than imagined. Armed with those results, the new 113th US Congress will be in a position to address the unfinished work of Dodd-Frank: systemic risk. More
(Boston) — Boston University’s Center for Finance, Law & Policy has announced the election of Karen Shaw Petrou, managing partner of Federal Financial Analytics, Inc., and Suzanne L. Duncan, Senior Vice President of State Street Corporation as members of its Board of Advisors.
Ms. Petrou founded Federal Financial Analytics in 1985. Her firm specializes in information and consulting services for financial institutions. In addition to its analytical and advisory services it also focuses on legislative, regulatory, and policy issues affecting financial services-companies doing business in the U.S.. Previously, Petrou was an officer of Bank of America, based first in San Francisco at the company’s headquarters and then in Washington where she represented the bank on Capitol Hill and before regulatory agencies. She earned a Masters of political science at University of California, Berkeley, and a Bachelors of political science from Wellesley College, which included a yearlong honors study at Massachusetts Institute of Technology.
Ms. Duncan is the global head of research for State Street Corporation’s independent think tank, the Center for Applied Research. Duncan worked for State Street from 1995-1999, and rejoined the bank in 2011 when she helped establish the Center, which is comprised of a global team of researchers located across the Americas, Europe, the Middle East and Africa, and the Asia Pacific region. Duncan directs the research agenda and manages a global team of research managers to provide strategic insights on the future of the investment management industry. Previously, Duncan served as the financial markets industry leader with IBM Corporation. Ms. Duncan earned an MBA in finance from Boston College and a BA in economics and political science from The College of the Holy Cross.
Prof. Cornelius Hurley, Director for the Center for Finance, Law and Policy, in welcoming the newest members of the Center’s advisory board said, “Karen and Suzanne have established themselves as profoundly insightful observers of the financial services industry. The Center will benefit enormously from their talent and creativity.”
Featuring Speaker Eugene Ludwig
Date: February 27th, 2013
Location: Hotel Commonwealth
500 Commonwealth Ave.
Boston, MA 02215
This event is generously co-sponsored by the Graduate Program in Banking and Financial Law and the MBA Finance Club
A critical emerging issue in economic development is the role that Diasporas and remittances can play in redeveloping post-conflict states.
4:30PM-6PM, November 8th, 2012
Boston University Law School, Room 1570
765 Commonwealth Avenue
Boston, MA 02215
John R. Silber (Hon.’95), the president emeritus and former chancellor who led the transformation of Boston University from a commuter school to a renowned research institution, died early this morning, Thursday, September 27, at age 86. The cause of death was kidney failure.
Silber, who came to Boston University in 1971, was the University’s seventh president, and served for more than three decades, as president until 1996, then as University chancellor from 1996 to 2003. He also was a College of Arts & Sciences professor of philosophy and of international relations, a University Professor, and a School of Law professor of law…
Read the full article at BU Today.
By Laurence Kotlikoff
August 21, 2012
Some 500 of my colleagues in economics, almost all academics, have signed a statement applauding former Governor Mitt Romney’s economic plan and condemning President Barack Obama’s handling of the economy. The statement amounts to an endorsement of Romney’s presidential candidacy. As such, it represents a disservice to the economics profession as well as to the statement’s signatories, five of whom are Nobel laureates. More