Events

Amar's Bhidé's seminar builds on the critique of mechanistic finance in his 2010 book (A Call for Judgment) but with a specific focus on liquefaction of mortgages and small loans. He argues that such liquefaction impels mechanistic lending practices to a much greater degree than the issuance of traditional corporate bonds.  It also imposes significant private and welfare costs.  He will further argue that mechanistic liquefaction of small loans has been nurtured in the US by efforts to increase home ownership and by securities, banking and pension rules.