Financial Crisis of 2008

The upcoming meeting of the IEEE Consultants’ Network of Northern New Jersey (, scheduled for Thursday, April 10, 6:30 PM, features a presentation by Samir Padalkar.

Please note: CNNNJ meetings in 2014 will generally be held on the second Thursday of the month. Please visit the Network web site or the IEEE Events Calendar for details of our schedule.

About the Topic

2008 Financial Crisis, Overview & Current State (From the perspective of an electrical engineer on Wall Street)

Do you know what factors really caused the worst recession since the Great Depression? What are the prospects for the US economy in the near future? The speaker, Samir Padalkar, will take a quick look at some often-debated basics of the 2008 financial crisis including causes, financial products and the role of various players; banks, insurers, rating agencies, Fannie – Freddie and the Federal Reserve. He will compare the 2008 crisis with the Internet Bubble. Finally, he will describe the current state of affairs including Dodd-Frank, the Volcker Rule & Too Big to Fail.
Topics covered:

  • Deconstructing? Toxi? assets- CDOs and derivatives and how they work, how they were priced, Monte-Carlo simulations, role of rating agencies and AIG , who bought them.
  • Fannie and Freddie- subprime mortgages- and the mortgage crisis, credit crisis, and credit crunch.
  • Financial Fault propagations.
  • The role of the Federal Reserve.
  • Looking at the Internet Bubble in 2000- how this was different.
  • Dodd-Frank, the Volcker Rule, Too big to Fail.

About the Speaker(s)

Samir Padalkar has over 20 years of experience building Real-Time decision systems, first in the chemical/aerospace industry and later in Real-Time trading systems such as those used in algorithmic trading. Most recently, he was CTO of Hold Brothers, a proprietary trading firm in NYC, where he built a real-time equities and derivatives trading platform. Samir started his career with a B.Tech from IIT Madras and a PhD from Vanderbilt University. His research was patented and commercialized by the Osaka Gas Company of Japan. Later he joined Quant Trading as lead software developer and applied his Real-Time systems work to developing Fixed Income & Derivatives trading systems. In 1996 he lead the launch of ?Sector?, one of the first off- the- shelf trading products on Wall Street, selling it to companies like Daiwa, GovPX, TD, ABN Amro, Lehman & Chase. In 2002, Thomson Financial bought Quant and Samir went to lead their fixed income development team as Vice president of Fixed Income Development. The following year he moved to TradeWeb, to lead a development team launching online Mortgage Backed Securities trading. He can be reached at, (908) 420-9022.

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Thursday April 10, 2014 from 6:30 PM – 8:30 PM
Morris County Library, 30 East Hanover Avenue, Whippany, NJ

Contact Robert Walker at (973) 728-0344 or

Non-members welcome!