Arrogance isn’t a defense
I am still amazed by the sheer amount of arrogance displayed by economists and finance professors. They remind me of the guy... Read More
Another day, another opaque market rigged by bankers
It seems like only yesterday and the large banks were paying fines for rigging the price of money (Libor), the foreign exchange... Read More
PwC auditor explains why transparency is necessary
The Irish Banking Inquiry turned to the bank auditors for an explanation of how the Irish banking system collapsed. In particular, the... Read More
Wall Street’s bad behavior to continue until transparency restored
In Transparency Games, I discuss a survey by the law firm of Labaton Sucharow. It found the more Wall Street bankers are... Read More
Lender of Last Resort
A bipartisan bill has been introduced by Senators Vitter and Warren that would change how the Fed could implement its lender of... Read More
Bankers, fines and the NE Patriots
There are lessons to be learned from the NFL and its attempt to “fine” the New England Patriots for cheating by under... Read More
Senator Warren and Lender of Last Resort
Senator Warren has decided to take on the Federal Reserve over its lender of last resort role. Specifically, in her speech, The... Read More
Bernanke has his Colonel Jessep moment
The splash page for Ben Bernanke’s new book, The Courage to Act, unmistakably parallels a wonderful scene from the movie A Few Good Men.... Read More