The fear merchants: Behind Wall Street's plan to profit from rocky markets

BNet
Dec 1, 2010

Former Federal Reserve chief Paul Volcker famously questioned the value of financial innovation. For an object lesson in what he was talking about, look no further than the proliferation of products based on the Chicago Board Option Exchange’s so-called Market Volatility Index, developed by ROBERT WHALEY, Valere Blair Potter Professor of Management.

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