This article reads Mohsin Hamid’s The Reluctant Fundamentalist and Joseph O’Neill’s Netherland as novels similarly preoccupied with the surreptitious linkages between risk, financial speculation, and terror. In doing so, it argues that Hamid and O’Neill mark a shift away from the post-9/11 novel’s prevailing investment in traumatic domesticity in order to develop nuanced treatments of how, in the wake of 9/11, risk, speculation, and terror are intensified along racial lines, and unevenly distributed across geopolitical divides between the Global North and South. In this way, The Reluctant Fundamentalist and Netherland reveal the superficial nature of risk society’s ideal subject. Beyond this, however, these novels also demonstrate risk society’s continued production of speculative or dissembling narratives designed to shield precarious subjects against future risks, while also projecting risky affective and political reinvestments in national contexts presumably consigned to vestigial status in an otherwise global imaginary.