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Financial crisis game: The ultimate stress-test

This is the game to beat all games. And it has a purpose: to give bankers and regulators experience of a financial crisis without the pain of losing their money - or their jobs. Euromoney (with PA Consulting Group and CSFI) set the conditions for a financial meltdown and invited 50 experienced professionals to come and play it out. The tension and the rivalry were real. Most agree they learned something about crises, and perhaps how to prepare better for the next one. By David Shirreff.

Dramatis personae
Mulhouse Brand & Co (mbc)
Lord Birkenhead, chairman
Peter Butter, chief financial officer
Wendy Nelson, in-house lawyer
Elmas (Emerging Latin Markets Assets & Securities)
Alberto Schultz, president and ceo
Federated Scottish Banks (fsb)
Sir Roy McTaggart, chairman and ceo
Iain Stewart, treasurer
Douglas Firth, lawyer
Bayerische Kreditbank (bkb)
Eugen Toplitz, chairman of the executive board
Hannes Ross, treasurer
Michaela Funk, mbc liaison and lawyer
UK officials
Howard Davies, chairman, CIB
Eddie George, governor, Bank of England
Alistair Darling, chief treasury secretary
German officials
Hans Tietmeyer, president, Bundesbank
Jürgen Stark, state secretary, federal finance ministry
Wolfgang Artopoeus, president, BaKred Berlin
US officials
Alan Greenspan, chairman, US Federal Reserve
Arthur Levitt, chairman, SEC
Robert Rubin, treasury secretary
Jim Herzog, acting head, CFTC
Multilateral officials
Andrew Crockett, chairman, BIS
Michel Camdessus, managing director, IMF
Wim Duisenberg, president, European Central Bank
UK banks
Martin Taylor, chief executive, Barclays Bank
Hans de Gier, chief executive, SBC Warburg
Sir William Purves, chairman, HSBC
German banks
Rolf Breuer, speaker, Deutsche Bank
Jürgen Sarrazin, chairman, Dresdner Bank
Friedel Neuber, chairman, Westdeutsche Landesbank
US banks
Nancy Coburn, chairman, Bank of America
Frank Newman, chairman, Bankers Trust
Dick Fisher, chairman, Morgan Stanley

A financial crisis isn't just about numbers that don't add up.

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