No, not in the sense that you get risk for free. It’s an existential question as to whether that’s even available.

Rather, this is about “freeing financial data and risk modelling.”

Freerisk is a project with the goal of making freely available the data, algorithms and tools necessary to perform risk modeling. We believe that risk management is too important to society to be an arcane subject or competitive

Basically,  a group of statisticians and computing-types have got together on an open-source basis with the intention  of somehow putting a sense of trust back into risk management.

Anyway, Cate Long at Shopyield, who blogs about getting retail investors to understand fixed income markets,  has now joined with Freerisk to develop Riski - a wiki that aims  to draw together as many resources as possible relating to the regulation of financial markets and products.

We have the basic structure of the site developed now and we are adding content… it’s in the earlist [sic] stages of development. The prime purpose of Riski is to help in the upcoming legislative process as Congress remakes the framework for financial markets regulation. I visited with a number of Congressional staffers last week in Washington and there was tremendous interest in Riski… there currently is no resource available that aggregates market practice, legislative, academic and media  information about financial markets regulation.

So, go on. Save the financial planet.