Bookstaber is Senior Policy Adviser to the Director at the SEC, in the Division of Risk, Strategy, and Financial Innovation. He is the author of A Demon of Our Own Design (Wiley, 2007). The book was prescient in laying out the sources of the current crisis: leverage, tight coupling and the complexity from innovative product. Bookstaber worked at Bridgewater Associates, the world’s largest hedge fund, until the end of 2008, and before that ran the Quantitative Equity Fund at FrontPoint Partners. He was in charge of risk management at Moore Capital Management, another hedge fund with over $10 billion in assets. He served as the managing director in charge of firm-wide risk management at Salomon Brothers and was a member of Salomon's powerful Risk Management Committee. Bookstaber also spent ten years at Morgan Stanley, first designing and marketing derivative instruments, then as a proprietary trader, and concluding his tenure there as Morgan Stanley's first market risk manager. In addition to A Demon of Our Own Design, he is the author of three other books and scores of articles on finance topics ranging from option theory to risk management. He has won the Graham and Dodd Scroll from the Financial Analysts Federation and the Roger F. Murray Award from the Institute for Quantitative Research in Finance for his research. Bookstaber was named to this year’s Conde Nast Portfolio 25 list of technical innovators, in the company of Steve Jobs, Jeff Bezos, Jeffrey Katzenberg and Eric Schmidt. He recently testified in the Senate on derivative regulation, and has also testified before both the Senate Banking Committee and the House Financial Services Committee on the current financial crisis and required regulatory reform. Bookstaber has a Ph.D in Economics from M.I.T.