Opacity as an Asset Class
Yes, you read that right. Opaque securities should be considered an asset class. But isn’t the Transparency Label Initiative all about dividing... Read More
Bank Leverage: The Great Divide
Since the Great Financial Crisis began on August 9, 2007, I have said the focus on bank capital in the absence of... Read More
BoE lists reasons you are suppose to think financial system is safer
As we approach the tenth anniversary of the financial crisis, the Bank of England published the reasons why you are suppose to... Read More
Gaming the Rules
Danièle Nouy, Chair of the Supervisory Board of the ECB, gave a speech in which she laid out why bank regulators and... Read More
Did Lack of Transparency Cause the Financial Crisis?
The lack of transparency in the global financial system was and still is the necessary condition for a financial crisis to occur. By... Read More
Are banks still an accident waiting to happen?
The results of the bank stress tests are in and once again virtually every single bank passed. Central bank regulators are running... Read More
Secret to How Wall Street Makes Money Revealed
In 2010, I wrote a Fortune column explaining how Wall Street made money on subprime mortgage-backed securities by exploiting its access to... Read More
Stanley Fischer’s Last Great Economics Lesson
With the announcement of his retirement as Fed Vice Chairman, I thought it would be interesting to browse through a few recent... Read More
Role of Financial Regulators in an Agent-based System
There are a number of reason I wish the Information Matrix was taught in Econ 101. Close to the top of the... Read More