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Restoring Confidence In The Financial System: See-through leverage: a powerful new tool for revealing and managing risk by Sean Tully, Richard Bassett

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Preface

What this book covers

This book advances a single, unifying approach to understanding all major aspects of the 2007-2009 financial crisis and offers clear practical tools for addressing it, in order to help ensure the same situation does not occur again.

It is our view that at the heart of the 2007-2009 crisis was a conceptual error in the way risk was viewed and measured since the advent of Basel I more than 20 years ago. We also make the case that this crisis was driven by the same risk management errors as were evident in previous crises.

The new conceptual approach advanced here resolves the paradoxes and explains the themes of this crisis with a single unifying concept – see-through leverage (STL) – the implementation of ...

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