Quants run Wall Street
A recent Wall Street Journal article observed we have reached the time when data-driven traders dominate the financial markets. The article describes how... Read More
Yale’s reputation used to defend failed response to financial crisis
Several years ago, I coined the expression Opacity Protection Team as shorthand for all individuals and institutions that enabled Wall Street to... Read More
Merrill Lynch Rogue Trader says system is broken
Another book on the financial crisis has been published. This time the author is a former trader who Merrill Lynch claims went... Read More
Obama offers honest explanation for saving bankers
In one of his first speeches since leaving the White House, Barack Obama offered up an honest explanation for why bankers were... Read More
The Financial Choice Act isn’t all bad
The GOP has begun the process of gutting the Dodd-Frank Act and its over-reliance on financial regulators. The Financial Choice Act is... Read More
Bank capital: great for everything; does nothing
Since the financial crisis intensified in 2008, the fans of bank book capital have made numerous positive claims about its magical capabilities.... Read More
Regulation dependent financial systems are crisis prone
In a recent interview, Paul Volcker was asked Has Wall Street always been trying to wiggle out of regulations? His response highlights... Read More