Sunday, May 20, 2012

Office of Financial Research

Just after the crisis, a group of scholars associated with quantitative finance (mathematicians, finance professors, financial economists, etc) got together with practitioners and regulators and formed a committee to lobby for the creation of a National Institute of Finance. The idea was to gather data and expertise to monitor, analyze and potentially prevent future crises.

Against all odds, the idea was enshrined in the Dodd-Frank act and became the Office of Financial Research. It has the potential to create an unprecedentedly useful database and spur paradigm shitting research with far reaching implications to the way finance is understood and practiced, and has already attracted some of the best minds in the field.

Naturally, the Republicans want to kill it.

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