Accurately and precisely modeling financial risk is something of a Holy Grail for financial theorists, regulators, and market participants. But like the Holy Grail, the location of a comprehensive model of risk remains unknown; some have even suggested that such a model is a figment of financial theorists’ imaginations.
Nowhere has that disaster been more fully [...]
The Patient is a married woman in her late twenties. She has a diagnosed history of depression, anxiety, post-traumatic stress disorder, and high blood pressure, and she was sexually abused as a child. In recent years, she has suffered seizures that occur as frequently as several in a single day and as rarely as two [...]
In 2000, Luis Alberto Jimenez, an undocumented and uninsured immigrant, sustained traumatic brain injuries in a car accident with an intoxicated Floridian driver. After the accident, he was hospitalized at Martin Memorial Medical Center, a private community hospital in Stuart, Florida. Because Jimenez, who remained incapacitated, required ongoing care but lacked medical insurance, Martin Memorial was unable [...]
Three facts bear notice in connection with our current financial troubles. The first is that the First World War, before the Second began, was known as “the Great War.” The second is that the global Depression that struck between those two wars—which, thankfully, it appears we can still label “Great” for the time being—commenced with [...]
“Lean your head back for a moment, Professor,” my barber had just requested. I did so, anticipating the rush of soothing warm water that would mark the beginning of my monthly shampoo and haircut when a familiar voice caused me to jerk erect.
“Rodrigo!” I exclaimed at the sight of my lanky, young friend standing next to [...]
