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Rethinking risk

Until regulators get as smart as the City, we will be stuck with political solutions to financial problems

By Mark Hannam   November 2007

Confusion of the incidental with the essential has been characteristic of much recent media coverage of the financial markets. More concerned with breaking stories than with telling them properly, and with assigning blame rather than explaining cause and motive, financial journalists have struggled to provide a coherent account to their non-expert audiences of the repricing of risk premiums.

It is not surprising that the public remains in the dark when it comes to financial risk. Risk issues are hard to explain to people who lack knowledge of mathematics and statistics. Debates about immunisation, nuclear energy and train safety, for example,…

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