Steven Schwarcz on a Financial Regulatory Framework for Systemic Risk

Duke University Law School’s Steven L. Schwarcz is a leading and prolific commentator on financial regulation and, I’m pleased to say, my c0-author on a book on financial regulatory reform (which, I’m less pleased to say, I have taken my own sweet time finishing; talk about a moving target!).   Steve is ahead of the curve both in the conceptualization of financial regulation as well as pointing to new areas in which problems are likely to emerge (e.g., his last and frankly disturbing draft article on the use and abuse of Special Purposes Entities in state and municipal finance).  Steve often posts to SSRN keynote speeches from conferences, which put the thesis in the plain language of a delivered talk, accessible to a broader public including students and non-specialists, before working it up into a much more detailed and formal scholarly article.  Last week Steve delivered the keynote address at a major conference of the European Central Bank on financial regulation in the EU, and his topic was finding a framework for regulating systemic risk (here at SSRN).  It’s crisp and clear, and by no means limited to specialists in its accessibility.

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