The Illusion of Control

"Too little financial regulation or too much of the wrong kind?  Whatever your view, Jon Daníelsson’s lively account and richly informed discussion will surely intrigue you and challenge preconceptions"—Patrick Honohan, Former Governor, Central Bank of Ireland

"Financial regulators should be required to read this book.  It shows in sparkling and non-technical language what aspects of risk can, and frequently cannot, be measured.  Anyone concerned with portfolio management should read it."—Charles Goodhart, London School of Economics
 

“Jon Danielsson makes a compelling case for a fundamental re-think in the approach to risk management taken by both financial services firms and their regulators. Those charged with the management, governance and regulation of risk – either at the level of an entity or an economy – should benefit enormously from Jon’s alternative framework.”—Lutfey Siddiqi, Risk Management Institute, National University of Singapore 

"Is international cooperation on regulatory standards stifling good risk taking, leading to bad risk taking? Refreshingly critical, The Illusion of Control is an important contribution to the ongoing mapping of financial risk."—Yves Mersch, former ECB board member and vice-chair, Single Supervisory Mechanism