This Is the End


Markets, Risk and Human Interaction

September 11, 2009

The Risks of Financial Modeling: My Testimony to the House

I testified before the House for the hearing, "The Risks of Financial Modeling: VaR and the Economic Meltdown". This is my written testimony. This is the video of the hearing.

I testified in the Subcommittee on Investigations and Oversight. This subcommittee includes a number of members -- including the Chairman -- who also are on the Financial Services Committee, and so the hearing in this venue will find its way back there.

I shared the panel with Nassim Taleb. While we naturally had disagreements in some areas, I think by and large we presented the message. (For example, see this FT post). I enjoyed meeting him in person for the first time.