kaal:claim:2097160-023

Existing default risk signals were inadequate: CAMEL ratings and credit default swap pricing did not suffice to signal default risk at Lehman Brothers, Bear Stearns, or Merrill Lynch.

Source quote, verbatim

CAMEL ratings and credit default swap pricing did not suffice to signal default risk in the cases of Lehman Brothers, Bear Stearns, and Merrill Lynch.

From

Wulf A. Kaal, Contingent Capital in Executive Compensation (2012), V.B.2 The Benefits of Early Triggers, footnote 182, p. 44
https://ssrn.com/abstract=2097160 · source PDF

Cite as

Wulf A. Kaal, Contingent Capital in Executive Compensation (2012). SSRN: https://ssrn.com/abstract=2097160

Holds when

the 2008 to 2009 financial crisis

Classification

failuresupport: assertedfailure: Existing default risk signals failed in the crisisfamily: measurement-and-metric-failurerisk-and-incentives

Verify

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