Mark T. Williams

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Mark T. Williams
Boston University School of Management
Born (1963-08-19) August 19, 1963 (age 53)

Mark Thomas Williams (born August 19, 1963) is an academic, financial author, columnist and risk management expert. He is a faculty member in the Finance and Economics Department at Boston University where he teaches courses in banking, risk management and capital market activities. Williams most recently co-authored a report with Harry Markopolos, the Bernie Madoff whistle blower. [1]


In 1985, he earned a Bachelor of Science Degree in Business Administration from the University of Delaware.[2] He became a bank trust officer for Wilmington Trust Company and joined TD Banknorth in 1987. In 1993 he earned a Master of Business Administration from Boston University and joined the Federal Reserve Bank as an examiner in Boston and San Francisco. In 1997 he joined Citizens Power LLC, a Boston-based energy trading company and became a senior vice president, Head of Global Risk Management.[citation needed] Since 2002, he has been on the faculty of Boston University as Executive-in-Residence/Master Lecturer.[3]

Williams is a member of the Standard & Poor’s Academic Council, a senior advisor at the Brattle Group and is on the board of Appleton Partners, a Boston-based private wealth management firm.[citation needed]

Williams is a frequent guest columnist and editorial contributor for the Financial Times,[4][5][6] Reuters,[7][8][9][10][11][12][13],[14][15] and Business Insider.[16][17] He has also written articles for,[18] the Boston Globe,[19] Foreign Policy magazine[20] and Bloomberg.[21]

Bitcoin criticism[edit]

In 2013 Williams predicted that Bitcoin would trade for less than 10 dollars by mid-2014,[22] and provided testimony before the New York State Department of Financial Services hearing on virtual currencies. In fact, bitcoin remained well above 200 dollars throughout 2014.[23] He raised concerns about bitcoin including it being a high-risk virtual commodity, having artificially inflated price, extreme hoarding, hyped demand, high potential for market manipulation, and need for strong regulation.[24][25] On April 2, 2014, Williams provided congressional testimony before the U.S. House of Representatives Committee on Small Business discussing the 10 major risks associated with bitcoin.[26] The bitcoin community remains critical of his concerns.[27][28] Williams also continues to assert that the virtual currency is in a hyper bubble and will eventually suffer a price collapse.[27]


  • Williams, Mark T. Uncontrolled risk: the lessons of Lehman Brothers and how systemic risk can still bring down the world financial system. New York: McGraw-Hill, 2010.
  • Williams, Mark T. & Lawson, Alan. Longwood Covered Courts: And the Rise of American Tennis. Boston: 2013.


  1. ^ "Madoff whistle-blower sounds alarm on T pension fund". Washington Post. June 27, 2015. 
  2. ^ Thomas, Neil (June 10, 2010). "UD alum writes book on Lehman, financial crisis and important lessons learned". UDaily. 
  3. ^ Barlow, Rich (June 17, 2010). "Learning from Lehman Brothers". BU Today. 
  4. ^ "MF Global Gives Fed a Lesson in How to Pick its Friends" The Financial Times - November 6, 2011
  5. ^ "Few Silver Linings When Gold Bubble Bursts" The Financial Times - October 17, 2010
  6. ^ "Ignore the hyperbole: America is not bust" The Financial Times - September 8, 2010
  7. ^ "Why did the SEC fail to spot the Madoff case?" Reuters - January 6, 2009
  8. ^ "Minimizing exposure to investment management fraud" Reuters - December 15, 2008
  9. ^ "Don’t throw the keys to the Fed" The Boston Globe - July 2, 2009
  10. ^ "Big banks aren’t bad banks" Reuters - February 2, 2010
  11. ^ "Two Years After Lehman, Risk of Financial Collapse is Still High" Reuters - September 15, 2010
  12. ^ "Is the Fed up to examining your trillion dollar bet?" Reuters - January 30, 2009
  13. ^ "Don’t give the Fed a new job" Reuters - July 16, 2009
  14. ^ "A Breach Of Fiduciary Duty At Bank Of America?" Forbes - February 26, 2009
  15. ^ "Subprime Market Debacle" Forbes - February 26, 2008
  16. ^ "Finance Professor: Mt Gox is Now a Fallen Tower of Sludge Business" Business Insider - February 25, 2014
  17. ^ "Bitcoin Could Involve Into An Existential Threat Worthy Of A Science Fiction Movie" Business Insider - February 15, 2014
  18. ^ "The G-20 Superpowers Should Learn From Canada" The Motley Fool - June 28, 2010
  19. ^ "The weak link in bank reform" The Boston Globe - July 8, 2010
  20. ^ "Fool's Gold" Foreign Policy - November 8, 2010
  21. ^ "Derivatives Trading Comes Clean in the Open: Mark T. Williams" Bloomberg - April 16, 2010
  22. ^
  23. ^
  24. ^ Testimony of Mark T. Williams The New York State Department of Financial Services: Hearing on Virtual Currencies - January 29, 2014.
  25. ^ Panel 3: The Academic View on Virtual Currencies The New York State Department of Financial Services: Hearing on Virtual Currencies - January 29, 2014.
  26. ^ [1] House Committee on Small Business: Committee Explores Risks and Benefits of Bitcoin Use by Small Businesses
  27. ^ a b "Prof. Mark T. Williams: "My Concerns Over Bitcoin Remain"". July 1, 2014. 
  28. ^ "Time is Running Out for Mark Williams Prediction of a $10 Bitcoin". May 30, 2014.