Global Finance - Credit Crises of Central Banks: Future Risks with Salih Neftci.
The crisis of summer 2007 involved hugely successful financial instruments and new markets. These were from the credit sector, which has been the center of financial innovation since 2000. How did such liquid markets and successful instruments create so much volatility all of a sudden? Financial engineering explanations of this puzzle have been put forward, but the real answer lies not in finance but in monetary policy.
In this talk, presented by Bob Kerrey, President of The New School, Professor Salih Neftci, director of the Global Finance master's program at The New School for Social Research, discusses these major innovations and the way monetary policy has shaped the dynamics of this crisis- The New School
January 1, 2011, Bob Kerrey completed his tenure as seventh President of The New School, a university founded on strong democratic ideals and daring educational practices, an environment that was well suited for his leadership. He also served as New School's President Emeritus from January 1, 2011 to January 31, 2013.
Prior to coming to The New School Bob Kerrey represented Nebraska in the United States Senate. For two terms, Senator Kerrey emphasized the direct connection between citizens and their laws, and made a concerted effort to allow Nebraskans to participate in writing laws that defined the quality and inclusiveness of their health care system, their schools and the safety of their communities. He served on the Senate's Agriculture and Forestry Committee, Senate's Appropriations Committee, Senate's Finance Committee, and last but not least on the Senate Select Committee on Intelligence where he worked to restructure our intelligence agencies to improve their capacity to meet the threats faced by our country. Prior to serving in the U.S. Senate Bob Kerrey served a single term as Nebraska's Governor. He established a reputation as a fiscal conservative who regularly crossed political party lines for the good of Nebraska and the Country.
Bob Kerrey served three years in the United States Navy. While in Vietnam, he was wounded, permanently disabled from the injury, and from this injury received a great gift: Sympathy for those who are suffering and an appreciation for the capacity of government to save your life. Before his time in the Navy Bob Kerrey attended the University of Nebraska graduating in January 1966 with a BS degree in pharmacy. He was born in Lincoln and attended public schools there. In 2002 he published a memoir "When I Was A Young Man."
Bob Kerrey is married to Sarah Paley and lives in New York. The couple has a 12-year-old son, Henry, and Mr. Kerrey has two children from his previous marriage, Ben and Lindsey Kerrey, and four grandchildren.
Salih Neftci teaches courses on financial economics at the Graduate Faculty at The New School, and is involved in several research groups at the Center for Economic Policy. He is currently at the Graduate School of City University of New York and also has teaching assignments at HEC, Lausanne University. Professor Neftci is the Head of FAME Certificate program and is a visiting professor at the ISMA Centre, Reading University. He is a leading faculty in courses directed towards advanced market professionals.