Prof. Myron S. Scholes, Chairman of Platinum Grove Asset Management, speaks during an Oxford-style debate on financial innovation hosted by "The Economist" magazine at Pace University in New York October 16, 2009. Scholes, who was defending contemporary financial innovations, is one of the authors of the Black-Scholes option pricing model that helped determine the price of derivatives and was a founder of the now-defunct hedge fund, Long Term Capital Management. Reuters Pictures logo Reuters Pictures 28 months ago

Prof. Myron S. Scholes, Chairman of Platinum Grove Asset Management, speaks during an Oxford-style debate on financial innovation hosted by "The Economist" magazine at Pace University in New York October 16, 2009. Scholes, who was defending contemporary financial innovations, is one of the authors of the Black-Scholes option pricing model that helped determine the price of derivatives and was a founder of the now-defunct hedge fund, Long Term Capital Management.

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