The Panic of 2007
from Boston Security Analysts Society
This event has passed.
Friday, November 7, 2008, 12:15pm - 2:00pm
Speaker:
Gary B. Gorton, Professor of Finance
Yale School of Management
Program:
How did problems with subprime mortgages result in a systemic crisis, a panic? Professor Gorton will discuss the relevant securities, derivatives, and vehicles to show:
- how asymmetric information between the sell-side and the buy-side was created via complexity
- how the chain of interlinked securities was sensitive to house prices
- how the risk was spread in an opaque way
- how the ABX indices allowed information to be aggregated and revealed
Prior to Yale School of Management, Professor Gorton was the Robert Morris Professor of Banking and Finance at The Wharton School of the University of Pennsylvania, where he taught since the fall of 1983. He was also a research associate of the National Bureau of Economic Research.
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