Matthew Richardson | |
---|---|
Academic career | |
Field | Finance, economics |
Institution | Wharton School of the University of Pennsylvania., New York University, National Bureau of Economic Research |
Alma mater | University of California at Los Angeles, Stanford University |
Matthew Richardson is the Charles E. Simon Professor of Applied Economics and Professor of Finance in the Finance Department at the Leonard N. Stern School of Business of New York University (NYU), New York, United States. [1] He is also the Director of Alternative Investments at the Salomon Center for the Study of Financial Institutions at NYU. [2] and a Research Associate of the National Bureau of Economic Research. [3] [4] Richardson is a co-editor of the Annual Review of Financial Economics . [5]
Richardson has co-edited or co-authored four books on the financial crisis of 2007–2008 and the modernization of insurance regulations: Restoring Stability: How to Repair a Failed System (2009), [6] Regulating Wall Street: The Dodd-Frank Act and the New Architecture of Global Finance (2010), [7] Guaranteed to Fail: Fannie Mae, Freddie Mac and the Debacle of Mortgage Finance (2011) [8] and Modernizing Insurance Regulation (2014). [9]
Richardson received both his B.A and M.S. in Economics concurrently from the University of California at Los Angeles in 1984. He received his Ph.D. in finance from the Graduate School of Business at Stanford University in 1989. [1]
Richardson was previously at the Wharton School of the University of Pennsylvania. [1] [10] Richardson joined the Leonard N. Stern School of Business of New York University in 1995. [1] He has been the Sidney Homer Director of the Salomon Center for the Study of Financial Institutions at NYU, [11] He is the Charles E. Simon Professor of Applied Economics and Professor of Finance in the Finance Department at the Leonard N. Stern School of Business of New York University (NYU). [1]
In 2004, Richardson was apparently inadvertently impersonated by a British University of Oxford engineering undergraduate by the same name, who took up an offer to perform a series of lectures in Beijing. The student used an A-level t textbook to "blag" through two days of lectures before fleeing from his Chinese audience and interpreter. [12] [13]
In economics, a moral hazard is a situation where an economic actor has an incentive to increase its exposure to risk because it does not bear the full costs of that risk. For example, when a corporation is insured, it may take on higher risk knowing that its insurance will pay the associated costs. A moral hazard may occur where the actions of the risk-taking party change to the detriment of the cost-bearing party after a financial transaction has taken place.
The savings and loan crisis of the 1980s and 1990s was the failure of 32% of savings and loan associations (S&Ls) in the United States from 1986 to 1995. An S&L or "thrift" is a financial institution that accepts savings deposits and makes mortgage, car and other personal loans to individual members.
The Community Reinvestment Act is a United States federal law designed to encourage commercial banks and savings associations to help meet the needs of borrowers in all segments of their communities, including low- and moderate-income neighborhoods. Congress passed the Act in 1977 to reduce discriminatory credit practices against low-income neighborhoods, a practice known as redlining.
The Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA), is a United States federal law enacted in the wake of the savings and loan crisis of the 1980s.
The Leonard N. Stern School of Business is the business school of New York University, a private research university based in New York City. Founded as the School of Commerce, Accounts and Finance in 1900, the school received its current name in 1988.
"Too big to fail" (TBTF) is a theory in banking and finance that asserts that certain corporations, particularly financial institutions, are so large and so interconnected that their failure would be disastrous to the greater economic system, and therefore should be supported by government when they face potential failure. The colloquial term "too big to fail" was popularized by U.S. Congressman Stewart McKinney in a 1984 Congressional hearing, discussing the Federal Deposit Insurance Corporation's intervention with Continental Illinois. The term had previously been used occasionally in the press, and similar thinking had motivated earlier bank bailouts.
The subprime mortgage crisis impact timeline lists dates relevant to the creation of a United States housing bubble and the 2005 housing bubble burst and the subprime mortgage crisis which developed during 2007 and 2008. It includes United States enactment of government laws and regulations, as well as public and private actions which affected the housing industry and related banking and investment activity. It also notes details of important incidents in the United States, such as bankruptcies and takeovers, and information and statistics about relevant trends. For more information on reverberations of this crisis throughout the global financial system see 2007–2008 financial crisis.
Regulatory responses to the subprime crisis addresses various actions taken by governments around the world to address the effects of the subprime mortgage crisis.
Roy Radner was Leonard N. Stern School Professor of Business at New York University. He was a micro-economic theorist. Radner's research interests included strategic analysis of climate change, bounded rationality, game-theoretic models of corruption, pricing of information goods and statistical theory of data mining. Previously he was a faculty member at the University of California, Berkeley, and a Distinguished Member of Technical Staff at AT&T Bell Laboratories.
Kenneth C. Froewiss was a Clinical Professor of Finance at the New York University Stern School of Business, and specialized investment banking, mergers and acquisitions, and corporate governance. Professor Froewiss also taught for the TRIUM Global Executive MBA Program, an alliance of NYU Stern, the London School of Economics and HEC School of Management, and served as Academic Director of Executive Programs at NYU Stern.
Thomas Ferguson Cooley was the Paganelli-Bull Professor of Economics at the New York University Stern School of Business. He served as Dean of the Stern School from 2002 to January 2010. He was also a professor of economics in the NYU Faculty of Arts and Science. Cooley was a widely published scholar in the areas of macroeconomic theory, monetary theory and policy, and the financial behavior of firms.
Anthony Saunders is the John M. Schiff Professor of Finance at New York University Stern School of Business and is currently on the Executive Committee of the Salomon Center of the Study of Financial Institutions.
Alexander Ljungqvist is a Swedish economist, educator, scholar, writer, and speaker. He is a professor of finance at the Stockholm School of Economics, where he is the inaugural holder of the Stefan Persson Family Chair in Entrepreneurial Finance. His areas of expertise include corporate finance, investment banking, initial public offerings, entrepreneurial finance, private equity, venture capital, corporate governance, and asset pricing. Professor Ljungqvist teaches Master's, MBA, and executive courses in private equity and venture capital and a PhD course in corporate finance.
The 2007–2008 financial crisis, or the global financial crisis (GFC), was the most severe worldwide economic crisis since the Great Depression. Predatory lending in the form of subprime mortgages targeting low-income homebuyers, excessive risk-taking by global financial institutions, a continuous buildup of toxic assets within banks, and the bursting of the United States housing bubble culminated in a "perfect storm", which led to the Great Recession.
Lasse Heje Pedersen is a Danish financial economist known for his research on liquidity risk and asset pricing. He is Professor of Finance at the Copenhagen Business School. Before that, he held the position of a Professor of Finance and Alternative Investments at the New York University Stern School of Business. He has also served in the monetary policy panel and liquidity working group at the Federal Reserve Bank of New York and is a principal at AQR Capital Management.
Lawrence J. White is Robert Kavesh Professor of Economics at New York University's Leonard N. Stern School of Business. During 1986–1989 he was on leave to serve as board member, Federal Home Loan Bank Board, in which capacity he also served as board member for Freddie Mac; and during 1982–1983 he was on leave to serve as Director of the Economic Policy Office, Antitrust Division, US Department of Justice. He is the General Editor of The Review of Industrial Organization and formerly Secretary-Treasurer of the Western Economic Association International.
Phillip Lee "Phill" Swagel is an American economist who is currently the director of the Congressional Budget Office. As Assistant Secretary of the Treasury for Economic Policy from 2006 to 2009, he played an important role in the Troubled Asset Relief Program that was part of the U.S. government's response to the financial crisis of 2007–08. He was recently a Professor in International Economics at the University of Maryland School of Public Policy, a non-resident scholar at the American Enterprise Institute, senior fellow at the Milken Institute, and co-chair of the Bipartisan Policy Center's Financial Regulatory Reform Initiative.
Viral V. Acharya is an Indian economist who was appointed as Deputy Governor of Reserve Bank of India (RBI). He also served as a member of the advisory council of the RBI Academy and was a member of the Academic Council of the National Institute of Securities Markets (NISM), Securities and Exchange Board of India (SEBI) since 2014. As of 23 January 2017, he was appointed to serve a three-year term as a Deputy Governor of the Reserve Bank of India. He resigned from the post in July 2019 with 6 months left for his completion of term.
Robert Salomon is an American researcher, author and educator. He is Professor and NEC Faculty Fellow of International Management at the New York University Stern School of Business. He is also the Vice Dean of NYU Stern, and Dean for Executive Programs. He was designated an NYU Stern Faculty Scholar in 2014.
Demotech, Inc., is an American insurance rating agency headquartered in Columbus, Ohio, that focuses on independent, regional, and specialty companies in the property and casualty insurance (P&C) industry. It is independent from the companies that it rates.
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