Mark T. Williams

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Mark T. Williams
MarkWilliamsNew.jpg
Boston University School of Management
Born (1963-08-19) August 19, 1963 (age 51)

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]

Career[edit]

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] Forbes.com,[14][15] and Business Insider.[16][17] He has also written articles for Fool.com,[18] the Boston Globe,[19] Foreign Policy magazine[20] and Bloomberg.[21]

In 2013 Williams predicted that Bitcoin "could" 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. During the February 2014 Flash Crash, the value of bitcoin dropped by over 80 percent, to a low of $102 before rising to over $600. Currently in 2015 it trades for over $200. 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.[23][24][better source needed] 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.[25] The Bitcoin community remains critical of his concerns.[26][27] Williams also continues to assert that the virtual currency is in a hyper bubble and will eventually suffer a price collapse.[26]

Awards[edit]

  • Beckwith Prize for Excellence in Teaching - Boston University, 2008.
  • New England Book Show Best Reference Book of 2013 - New England Book Show, 2013.

Publications[edit]

  • 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.

References[edit]

  1. ^ "Fannie, Freddie execs 'splainin'". BU Now. April 9, 2010. 
  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. ^ http://www.businessinsider.com/williams-bitcoin-meltdown-10-2013-12
  23. ^ Testimony of Mark T. Williams The New York State Department of Financial Services: Hearing on Virtual Currencies - January 29, 2014.
  24. ^ Panel 3: The Academic View on Virtual Currencies The New York State Department of Financial Services: Hearing on Virtual Currencies - January 29, 2014.
  25. ^ [1] House Committee on Small Business: Committee Explores Risks and Benefits of Bitcoin Use by Small Businesses
  26. ^ a b "Prof. Mark T. Williams: "My Concerns Over Bitcoin Remain"". July 1, 2014. 
  27. ^ "Time is Running Out for Mark Williams Prediction of a $10 Bitcoin". May 30, 2014.