Friday, November 21, 2008

Two Finance Professors in the news

Andrew Lo of MIT went in front of Congress recently. He suggested a team including some from academia to study what went wrong to prevent it from happening again. Of course, that is already happening at thousands of firms and hundreds of universities. (from MoneyScience)
"Professor Lo, described his idea that the US Government should set up a small agency, modeled along the lines of the National Transportation Safety Board, that would investigate hedge fund blow-ups"
Georgetown University: The Rise and Fall of Teaching Finance:
"Reena Aggarwal, a Stallkamp Faculty Fellow and professor of finance, says the recent U.S. financial crisis means that she is spending even more time researching the market. A growing fear of a global recession has the financial scholar keeping up with the market in an all-consuming way.

“The financial market is literally changing by the minute,” Aggarwal says. “There is a lot of fluff in the mainstream media right now about the status of the U.S. and international economies, but you really have to go much deeper to understand what exactly is going on.
and later:
"The weekly course topics I am teaching are changing – not by the day, but literally, by the hour,” says Aggarwal. “I have told the students to expect changes as we go along because the whole financial industry is going to look completely different now than how it has looked in the past.”

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