Description: Argues that the suppression or mitigation of small and intermediate economic collapses means that much bigger collapses will occur instead.

Description: Lessons learned in the financial crisis - global ramifications and need for better financial reporting standards and market oversight.

Description: Analyzes whether or not it is a legitimate function of government to regulate financial institutions.

Description: Explains how Dodd-Frank will impact activities of an insurance company in a number of ways.

Description: The actuary’s key role in the ORSA process should be to quantify the uncertainty surrounding the future financial results of the firm. By providing relevant standardized reports that clarify the uncertainty in terms easily understood by all stakeholders, the actuary will provide an essential element in the ORSA process. The dictum, "You can't manage what you can't measure." demonstrates the need to quantify risk, not just describe it qualitatively. While the ability to provide firm estimates of aggregate risk for complex organizations may not exist currently, doing so should be a target for the profession. The end result will be to enhance the financial security of the insurance industry at a time when all financial institutions are facing stakeholders skeptical about their financial condition. Part of the essay collection "Risk Metrics for Decision Making and ORSA"

Description: Describes some of the challenges to be overcome in United States regulation of systemic risk. Argues that actuarial contributions can significantly accelerate progress in systemic risk regulation.

Description: Suggests Dodd-Frank financial reform legislation doesn’t go far enough to reduce systemic risk. Paper provides suggestions that would improve outcomes if built into the regulations.

Description: Argues that during boom times, it is virtually impossible to get regulators to oppose politicians who are being lobbied by financial services organizations, thus a bubble expands and a bust is inevitable.