Dear R-Fin Community,

Has there been any work done since the financial crisis in defining what are
the systematic risks to the financial system, and the economy as a whole, in
certain derivatives positions, securitizing mortgages, excessive leverage,
poor liquidity ala LTCM, etc?  Could I use R, hypothetically, to analyze
past data with respect to a basket of derivatives, to come up with some kind
of measure for how close we are to a 'doomsday' scenario, like a near total
market value meltdown of mortgage backed securities?

I would also very much appreciate anyone willing to message me off list to
explain what legislative or fed policy reforms, if any, could prevent big
banks from creating such risks.  What better perspective on this than an
insider's perspective?

Best,
-David

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