Head of modelling risk for RBS. Maybe some of it was derivatives. Some of it sho... | Hacker News

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branchless on Dec 4, 2014 | parent | context | favorite | on: How to Get a Quant Job in Finance

Head of modelling risk for RBS. Maybe some of it was derivatives. Some of it should have been modelling the cost of borrowing money on wholesale markets. The RBS strategy was leverage to the hilt, borrow short, lend long. Lunacy.

cma on Dec 5, 2014 | [–]

Maybe he thought it was a bad srategy until he calculated in the likelihood of tax-payer bailout if things went wrong.

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