He is a scholar of the complexities of modern finance and financial market regulation.
He worked as a derivatives structurer at Morgan Stanley and CS First Boston during the mid-1990s and wrote F.I.A.S.C.O.
Since 1997, he has been a law professor, and writing and speaking about markets to Congress, regulators, academics, and investors.
He has written opinion pieces for The New York Times and the Financial Times, and more than two dozen scholarly articles published in academic journals including The Journal of Finance.
His most recent book is WAIT: The Art and Science of Delay, published by PublicAffairs in June 2012.