With deep regret we announce the death of Professor Paul Nelson who passed away the weekend of 8 August.
Paul had been the senior Capital Markets partner at law firm Linklaters before he went part time so as to take up as chair in Regulation and Compliance programme at the ICMA Centre. Paul was widely regarded as one of the few analytically-inclined professional lawyers and had very significant involvement in the drafting of much of the UK’s financial legislation. Shortly after joining the ICMA Centre and just after completing his book on MiFID and its introduction, he was taken ill and was under intensive treatment for the next 18 months.
Professor Brian Scott-Quinn has described the ultimate cause of the banking crisis with the words: ?greed and fear’
In his interview with Project Manager Today magazine, Professor Scott-Quinn cited many other factors of the world banking system that had inevitably contributed to this crisis we are experiencing. He went on to say that simply reversing the problems that have been caused would not prevent future ones.
He added that markets have always been seen as rational, and that ?If rational expectations are not an adequate model of reality, then policy must take account of actual human nature and not be based on ?rational human man”
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