What We Don’t Know is as Dangerous as What We Do
The September 2013 Office of Financial Research (OFR) report entitled “Asset Management and Financial Stability” attempts to present a critical analysis of how asset management firms and the activities in which they engage can introduce vulnerabilities that could pose, amplify, or transmit threats to financial stability. The report’s assumptions and conclusions have provoked some very strong responses from members of the asset management industry, commentators, and even some legislators. Despite the mixed reviews, the reports yields some very useful findings and analysis.