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head of quantitative research = spending all your time on pricing models for complex derivatives. it's unlikely he had anything to do with RBS's overall financial strategy


Head of modelling risk for RBS. Maybe some of it was derivatives. Some of it should have been modelling the cost of borrowing money on wholesale markets. The RBS strategy was leverage to the hilt, borrow short, lend long. Lunacy.


Maybe he thought it was a bad srategy until he calculated in the likelihood of tax-payer bailout if things went wrong.




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