Education
Bookstaber received a Bachelor of Arts in Economics from Brigham Young University and a Doctor of Philosophy from the Massachusetts Institute of Technology.
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Richard Bookstaber
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The book is noted for its foreshadowing of the financial crisis of 2007-2008. He held academic positions at Boston University, Brigham Young University, and the Hebrew University of Jerusalem, the last as a Fulbright Scholar. His research focused on option pricing theory, and he wrote an early book in the field
Bookstaber joined Morgan Stanley in 1984, where he held positions in research and proprietary trading, and was appointed to be the firm"s first market risk manager.
In 1994 he moved to Salomon Brothers where he was the Managing Director in charge of firmwide risk. Following the publication of A Demon Of Our Own Design, Bookstaber testified a number of times to Congress on issues related to the financial crisis on topics including derivatives, hedge funds, systemic risk, and risk management.
Beginning in 2009 he took on various number of roles in the United States. financial regulatory system. Bookstaber worked at the United States. Securities and Exchange Commission during formulation of the Volcker Rule.
Since 2010 he has worked at the United States Department of the Treasury, where he is Senior Policy Advisory to the Financial Stability Oversight Council, and Research Principal at the Office of Financial Research.
His principal research focus is on applying Agent-based models to assess systemic financial vulnerabilities.
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