Social and Behavioral Sciences Commons^™

Portable Bank Account, Vijaya Krushna Varma Mr

VIJAYA KRUSHNA VARMA Mr

Varma suggests radical bank reforms to usher in fully liberalized and transparent economic system. The time has come to radically reform banking sector to the ultimate level where there will be no NPAs, unemployment, black money, fake currency, economic recession and corruption. The government should liberalise the banking sector to establish a bank branch at every village or colony having population of 2500 so that each bank shall handle approximately 2000 accounts. The main objectives of fully liberalised banking sector are as follows* To give every citizen above the age of 15 years a portable bank savings account with permanent …

Code, Crash, And Open Source: The Outsourcing Of Financial Regulation To Risk Models And The Global Financial Crisis, Erik F. Gerding

Erik F. Gerding

The widespread use computer-based risk models in the financial industry in the last two decades enabled the marketing of more complex financial products to consumers, the growth of securitization and derivatives, and the development of sophisticated risk management strategies by financial institutions. Over this same period, regulators increasingly delegated or outsourced vast responsibility for regulating risk in both consumer finance and financial markets to these private industry models. The proprietary risk models of financial institutions thus came to serve as a “new financial code” that regulated transfers of risk among consumers, financial institutions, and investors.

The spectacular failure of financial …