Value at Risk is the perpetrator

My friend Nassim Taleb has been invited as expert witness by the Committee. That's a wise choice. Taleb has not only been a real derivatives trader for decades, but crucially has been warning about VaR's potential for destruction for at least 15 years.

http://www.huffingtonpost.com/pablo-triana/obama-should-stop-by-tale_b_278516.html