[open-economics] Fwd: [okfn-discuss] Open Source Finance Meetup in San Francisco, February 20

Wed Feb 13 19:51:46 UTC 2013

I'd like to attend.
I wonder why you think that a calculation could solve the problem.
What leads to the believe, that something as a "default probability" could
be calculated at all?

If it is not transparent, then people wonder if they could trust in ratings.
If it is transparent, then people could perfectly anticipate the rating
method, rendering the rating obsolete, because Sovereign Debt could be
artificially engineered in a way that optimizes the rating, so that the
actual rating will never reflect the "true probability of defaulting".

So people will start to interpret the "official open source rating" and the
problem will start again :-)

On Wed, Feb 13, 2013 at 8:18 PM, Velichka Dimitrova <
velichka.dimitrova at okfn.org> wrote:

>
>
> ---------- Forwarded message ----------
> From: Marc Joffe <marc at publicsectorcredit.org>
> Date: Wed, Feb 13, 2013 at 4:14 PM
> Subject: [okfn-discuss] Open Source Finance Meetup in San Francisco,
> February 20
> To: balug-talk at lists.balug.org, okfn-discuss at lists.okfn.org,
> bayarea.members at lists.the-hub.net
>
>
> Last week’s Department of Justice lawsuit against S&P reminds that five
> years after the financial crisis, the global financial system is still
> broken and constructive solutions remain out of reach. We believe that open
> source tools can bring the transparency that this system needs, and have
> formed a Meetup group in San Francisco to discuss open source /open data
> finance concepts. ****
>
> Our next Meetup is Wednesday, February 20th at 6:00 PM at the offices of
> Kaggle, 188 King Street Unit 502, San Francisco, CA. To attend in person,
> please join the Open Source Finance Meetup<http://www.meetup.com/Open-Source-Finance>group and RSVP. A description of this meeting follows:
> ****
>
> Rating agency assessments of sovereign debt have been in the news for some
> time. In 2011, S&P faced enormous criticism for downgrading the US, while
> all agencies have been criticized for downgrading Greece too late and for
> discriminating against emerging market countries. Less is said about US
> state bond ratings, but interested observers might wonder why California is
> still rated lower than many toxic assets despite balancing its budget.****
>
> Instead of analyst discretion, sovereign and state credit ratings can and
> should be calculated with transparent, open source computer models. Last
> year, I introduced such a model - the Public Sector Credit Framework<http://www.publicsectorcredit.org/pscf.html>
>  - which I will demonstrate. The tool uses a combination of Excel and C
> to perform a multi-year fiscal simulation on the target government.****
>
> No food this time, but we are offering a virtual meeting alternative.  Up
> to 24 remote attendees can access the session using GoToMeeting. There is
> no charge for attending a GoToMeeting but you do have to download a small
> client app. Most major platforms are supported. Details are as follows:***
> *
>
> Web Address: https://www3.gotomeeting.com/join/463426174****
>
> Telephone Number: +1 (619) 550-0000****
>
> Access Code: 463-426-174****
>
> Start Time:  6:30 PM Pacific Standard Time****
>
> ** **
>
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>
>
>
> --
> Velichka Dimitrova
> Open Economics Project Coordinator
> Open Knowledge Foundation
> http://okfn.org | http://openeconomics.net
>
>
>
>
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