Less than a month ago I discussed the disaster being experienced by the Royal Bank of Scotland (RBS) and its Irish subsidiary as a result of a software installation screwup. For RBS the nightmare continues as it now calculates the…
Tag Archive for complex systems
what network science has to say about large universal banks
by lawrence baxter • • 4 Comments
A few days after he made the fateful acquisition of Golden West, Ken Thompson, then CEO of Wachovia Corporation exuberantly celebrated the universal bank model that had emerged in the United States in the wake of the repeal of the…
taking on the juggernauts
by lawrence baxter • • 1 Comment
In Britain some fairly bold moves are afoot for addressing the great social, political and economic problem of the ultra large banks. This morning the Independent Commission on Banking (ICB) released its Interim Report, which lays out a range of…
targeting the “super spreaders”
by lawrence baxter • • 0 Comments
The best way for us to approach financial reform is to understand financial markets and the financial system itself as a series of highly complex adaptive systems–a rich and diverse ecology. These ecologies are continually evolving. They are inhabited by…
what caused the financial crisis? the fcic report
by lawrence baxter • • 4 Comments
Today the Financial Crisis Inquiry Commission released its long-awaited report ( The Financial Crisis Inquiry Report: Financial Report of the National Commission on the Causes of the Financial and Economic Crisis in the United States). The Report of the ten-member,…
catching a will o’ the wisp in the mosh pit
by lawrence baxter • • 3 Comments
Brooke Masters describes in today’s Financial Times how the original ambition of global regulators, in the midst of the Great Financial Crisis, to develop a unified and determined approach for addressing global financial stability and averting financial crises has steadily…
financial stability in a complex ecology
by lawrence baxter • • 4 Comments
The seemingly impossible has happened! Congress has just passed massive financial reform legislation. The scale of reform introduced by the Dodd-Frank Wall Street Reform and Consumer Protection Act, which is now certain to be signed into law, is literally monumental.…
