The Federal Reserve Does Nothing
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Very Smart Guy, Very Big Loss...

My near-contemporary Salah Neftci is dead:

Salih Neftci (’77) passed away April 15, 2009 in Aubonne, Switzerland of brain cancer. Salih completed his Ph.D. in 1977, and then taught at Boston College and George Washington University, before arriving at the City University of New York (CUNY) in 1982. In 2005 he accepted a professorship at the New School of Social Research, where he was director of the master of science program in global finance. He was also a director of the FAME (Financial Engineering and Asset Management) Certificate Pro- gram (now the Swiss Finance Institute); a consultant to the IMF, the World Bank, the U.S. Department of State and the Agen- cy for International Development; and a newspaper columnist in Turkey and China. He was the author of: An Introduction to the Mathematics of Financial Derivatives (2000), China’s Financial Markets: An Insider’s Guide to How Markets Work (2006, with Michelle Yuan Menager-Xu), and Principles of Financial Engineering (2nd ed, 2008). A conference is planned by the New School to honor his contributions to the analysis of business cycles and other macro topics...

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