Dear Innovators [writes Thomas B],
It's been a wild six months since the first London BarCampBank - the collapse of Lehman Brothers, sterling falling off a cliff along with the stock markets and even the man in the street talks about the credit crunch now - so we thought it was time for London's second BarCampBank.
As before we will bring together technologists and industry insiders for a day of networking and discussion of the impact of emerging technologies on the financial space.
So if you are an innovator, a disruptor or a professional of the banking and finance industry, if you are excited by or just curious about all the innovations that the new technologies could bring to the banking and finance world or if you want to present a project, confront your ideas or just echo lively debates with your own experience then you should definitely consider joining us at BarCampBankLondon2.
More info and the wiki for the event can be found at http://barcamp.org/BarCampBankLondon2
Registration takes place on eventbrite.
We hope you can join us again for an interesting day examining how meaningful innovations can solve the financial mess we are in right now.
Posted by iang at January 23, 2009 07:06 PM | TrackBackthis is long-winded, decade old post discussing some of the issues ... including discussion of citi nearly went under two decades ago because of ARMs and not adequately understanding what happens when interest rates adjust.
http://www.garlic.com/~lynn/aepay3.htm#riskm
I believe that some of the people involved in that analysis were part of forming a leading risk analysis (software) company in 1990.
Playing long/short mismatch has been known for centuries to bring down institutions. They (and others) have commented that Bear-Stearns and Lehman had marginal chance of surviving playing long/short mismatch ... this discusses long/short mismatch and some number of other related issues:
http://www.forbes.com/entrepreneursfinance/2007/11/13/citigroup-suntrust-siv-ent-fin-cx_bh_1113hamiltonmatch.html
decade old article from the fed
http://www.frbsf.org/econrsrch/wklyltr/2000/el2000-26.html
Playing long/short mismatch was independent of heavy leveraging, SIVs, and whether or not the toxic (subprime) CDOs deserved their triple-A ratings.
a couple recent, related archived (linkedin) discussions:
http://www.garlic.com/~lynn/2009.html#79 The Credit Crunch: Why it happened?
http://www.garlic.com/~lynn/2009.html#80 Are reckless risks a natural fallout of "excessive" executive compensation?
http://www.garlic.com/~lynn/2009.html#84 what was the idea behind Citigroup's splitting up into two different divisions?
http://www.garlic.com/~lynn/2009b.html#1 Are Both The U.S. & UK on the brink of debt disaster?
http://www.garlic.com/~lynn/2009b.html#8 Do emperos from the banks have new clothes?
It was actually Fredric who wrote the "blurb", but I'm happy to take credit :-)
Posted by: Thomas Barker at January 24, 2009 09:57 AM