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Employment derivatives: Difference between revisions
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If one could only match off long and short exposures, Barkley realised, firms on either side of the bid could hedge their exposure to π. | If one could only match off long and short exposures, Barkley realised, firms on either side of the bid could hedge their exposure to π. | ||
In one of those cruel ironies to whose martial cadence our lives keep time, before he could figure out a way of monetising his idea, Hunter Barkley was laid off and, shortly afterwards, imprisoned for manipulating [[LIBOR]]. | In one of those cruel ironies to whose martial cadence our lives keep time, before he could figure out a way of monetising his idea, Hunter Barkley was laid off and, shortly afterwards, imprisoned for manipulating [[LIBOR]]. | ||
The idea of employment derivatives would lie fallow while he served out his porridge. | |||
==== A chance encounter at a bar in West London ==== | ==== A chance encounter at a bar in West London ==== | ||