kaal:claim:1806252-034

Without the threat of systemic risk and without a clear delineation of the social externalities that hedge funds cause, the purpose of direct hedge fund regulation is unclear.

Without the threat of systemic risk and without a clear delineation of social externalities caused by hedge funds, the purpose of direct hedge fund regulation is unclear.

Kaal, Hedge Fund Regulation Via Basel III (2011), I. INTRODUCTION, p. 7
https://ssrn.com/abstract=1806252 · source PDF

Kaal, Hedge Fund Regulation Via Basel III (2011). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1806252

• hedge funds have fewer assets and less leverage than banks
• collapses such as Amaranth in 2006 and large redemptions did not cause systemic problems

conditionsupport: arguedsystemic-riskrisk-and-incentivesprivate-funds

• extended_by kaal:claim:3405660-001 Direct hedge fund regulation faces a two sided trap: strong direct rules push hedge funds offshore where they ...

The quote above is an exact substring of the source PDF, whose sha256 is 3343ebfe05a925c3d1a75625c4b351ccff515c50819a48d155804daacf01429d. Extraction method: ocr.
Attestation record: colloquium/attestations/891138a7933451ce...json
Verify the binding yourself: curl -s https://wulfkaal.github.io/claims/1806252-034.md | sha256sum