Raising capital requirements for banks - HHEI Director VV Chari

"In our model, the costs of a financial crisis come largely from resources lost in bankruptcy and liquidation," VV Chari said. "To the extent that capital requirements can reduce the debt level of firms, that reduces the losses from bankruptcy. And because it reduces the losses, it reduces the incentive of governments to bail out."

HHEI Advisory Board member Richard Sandor awarded the French Legion of Honor

Dr. Richard Sandor, renowned financial innovator and entrepreneur, was named Chevalier dans l´ordre de la Légion d´Honneur (Knight in the French National Order of the Legion of Honor). The award is the highest decoration granted by the French government, and acknowledges his accomplishments in the field of environmental finance and carbon trading as well as his personal commitment and contribution to the promotion of French-American friendship. This award was conferred upon Dr. Sandor by decree of the President of France.