Get Fatal Risk: A Cautionary Tale of AIG's Corporate Suicide PDF

Risk Management

By Roddy Boyd

Long-listed for the toes & Goldman Sachs company publication of the 12 months Award 2011
The precise tale of ways threat destroys, as instructed throughout the ongoing saga of AIG
From the cave in of endure Stearns and Lehman Brothers, the topic of the monetary problem has been good coated. even if, the tale critical to the crisis-that of AIG-has previously remained mostly untold. Fatal possibility: A Cautionary story of AIG's company Suicide tells the interior tale of what fairly went on within AIG that prompted it to choke on hazard and approximately brining down the full economy. The book
* finds inside of details on hand nowhere else, together with the private notes and files of key avid gamers resembling the previous Chairman of AIG, Hank Greenberg* Takes readers behind the curtain on the U.S. Treasury and the Federal Reserve financial institution of latest York* information how an realizing of threat outfitted AIG, yet a disdain for presidency regulators ended in a run-in with manhattan nation legal professional basic Eliot Spitzer

Fatal Risk is the excellent and compelling real tale of the corporate on the middle of the monetary hurricane and the way it approximately brought on the total economy to break down.

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1 (Continued ) Date Activity/Product 2004 (various dates) The launch of QIS4 (national QISs). October 2005 The launch of QIS5. November 2005 Publishing a revised Basel II document (BCBS, 2005b). June 2006 Publishing the results of QIS5. June 2006 Publishing a comprehensive version of the revised Basel II document (BCBS, 2006a). June 2006 Publishing a document on home-host information sharing for effective Basel II implementation (BCBS, 2006b). October 2006 Publishing a document on the observed range of practices in key elements of the advanced measurement approach to the measurement of operational risk (BCBS, 2006c).

While categorizing debtors into a few risk “buckets” was certainly an innovation in 1988, it also gave rise to a significant gap between the regulatory measurement of risk of a given transaction and its actual economic risk. The most troubling side effect of the gap between THE BASEL COMMITTEE, BASEL I AND BASEL II 35 regulatory and economic risk is the distortion of financial decision making, including large amounts of regulatory arbitrage, or investments made on the basis of regulatory constraints rather than genuine economic opportunities.

10) While the VAR is the most that can be expected to be lost if a bad event occurs, the ETL is what is expected to be lost if a bad event occurs. While the VAR is the threshold value for which in c percent of instances (where c is the confidence level), the loss is smaller than the VAR, the ETL is an estimate of the average loss when the loss exceeds VAR. 5 shows the ETL in relation to the VAR. , 1999). 3 The probability, frequency, and severity of loss In general, risk is measured in terms of two parameters: the probability of making loss and the potential amount lost if a loss event occurs.

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