| RISK RADAR REPORT | against greed <strong>and</strong> moral hazard is. In fact, as ironic as it might sound, most derivatives are fundamentally designed as risk management tools. Again with <strong>the</strong> benefit of hindsight, we have seen from <strong>the</strong> case of <strong>AIG</strong> how important it is to exercise prudent risk management with discipline, in both good times <strong>and</strong> bad. NTU – RISK MANAGEMENT SOCIETY – RESEARCH DEPARTMENT Page 10 of 12
| RISK RADAR REPORT | References: Asher, A. & Heaser, C. (2008) <strong>AIG</strong> Collapse. Putting <strong>the</strong> pieces toge<strong>the</strong>r. What can we learn? Retrieved from http://www.deloitte.com/assets/Dcom-Australia/Local%20Assets/Documents/Deloitte_<strong>AIG</strong>_credit_crunch.pdf Baranoff, E. (2012). An Analysis of <strong>the</strong> <strong>AIG</strong> Case: Underst<strong>and</strong>ing Systemic Risk <strong>and</strong> Its Relation to Insurance. Journal Of Insurance Regulation, 31243-270. Crump, R. (2008). <strong>AIG</strong> <strong>Crisis</strong>: Facing <strong>the</strong> final whistle. Reactions, 28(8), 1. Davidson A. (2008) How <strong>AIG</strong> fell apart Retrieved from http://www.reuters.com/article/2008/09/18/us-how-aig-fell-apartidUSMAR85972720080918 Flannery M. , Houston J. F. & Partnoy F. (2010) <strong>Credit</strong> default swap spreads as viable substitutes for credit ratings. University of Pennsylvania Law Review[Vol. 158: 2085] Harrington, S. E. (2009). The <strong>Financial</strong> <strong>Crisis</strong>, Systemic Risk, <strong>and</strong> <strong>the</strong> Future of Insurance Regulation. Journal Of Risk And Insurance, 76(4), 785-819. Intercontinental Exchange (ICE) (2013). ICE Clear <strong>Credit</strong>. Retrieved from https://www.<strong>the</strong>ice.com/clear_credit.jhtml Irwin, N. (2013, January 1). <strong>AIG</strong> to America: Thanks, guys!. Washington Post. Retrieved from http://www.washingtonpost.com/blogs/wonkblog/wp/2012/12/31/aig-to-america-thanks-guys/ Jones, A. (2010) Why Did <strong>AIG</strong>’s Joseph Cassano Evade Charges?, Wall Street Journal Blogs. Retrieved from: http://blogs.wsj.com/law/2010/07/23/why-did-aigs-joseph-cassano-evade-charges-click-here/ Kopecki D. & Harrington S. D. (2009) Banning ‘Naked’ <strong>Default</strong> <strong>Swaps</strong> May Raise Corporate Funding Cost. Retrieved from http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a0W1VTiv9q2A Lewis, M. (2009) The Man Who Crashed <strong>the</strong> World, Vanity Fair Retrieved from: http://www.vanityfair.com/politics/features/2009/08/aig200908 <strong>Financial</strong> <strong>Crisis</strong> Inquiry Commission (FCIC) (2010, April 23). Memor<strong>and</strong>um for <strong>the</strong> Record: Interview with Joseph St. Denis. Retrieved from: http://fcic-static.law.stanford.edu/cdn_media/fcic-docs/2010-04- 23%20FCIC%20memo%20of%20staff%20interview%20with%20Joseph%20St.%20Denis,%20American%20International%20 Group,%20Inc..pdf Rao, A. (2011). <strong>AIG</strong> <strong>Crisis</strong>: Impact on Insurance Business with Special Reference to China, Japan <strong>and</strong> India. IUP Journal Of Risk & Insurance, 8(3), 57-80. Rosengren, E. S. (2009) Lessons for <strong>the</strong> Future from <strong>the</strong> <strong>Financial</strong> <strong>Crisis</strong>. Retrieved from http://www.bos.frb.org/news/speeches/rosengren/2009/120309.pdf Saunders A. & Cornett M. M. (2012) <strong>Financial</strong> Markets <strong>and</strong> Institutions Fifth Edition McGraw Hill Stecker, J. (2009). Impact of <strong>the</strong> 2008 Economic <strong>Crisis</strong> on <strong>the</strong> Insurance Industry-First Impressions. Journal Of <strong>Financial</strong> Service Professionals, 63(2), 71-76. Walsh, M., De La Merced, M. J., Anderson, J., & Dash, E. (2008, September 16). A Race For Cash At A.I.G. New York Times. p. 1. White, G. & Moreira, P. (2008). Fed Lends <strong>AIG</strong> $85 Billion, Takes Control. Retrieved from http://www.law.com/jsp/law/international/LawArticleIntl.jsp?id=1202424584749 Xia, H. <strong>and</strong> Strobl, G.(2012), The Issuer-Pays Rating Model <strong>and</strong> Ratings Inflation: Evidence from Corporate <strong>Credit</strong> Ratings. Available at SSRN: http://ssrn.com/abstract=2002186 or http://dx.doi.org/10.2139/ssrn.2002186 NTU – RISK MANAGEMENT SOCIETY – RESEARCH DEPARTMENT Page 11 of 12
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