Credentials versus Expertise
Since 2008 when the Queen of England asked Economists (broadly defined to include finance professors) why they had not seen the financial... Read More
A Reassuring Lie
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When the Queen of England asked Economists (including finance professors too) in 2008 why they had failed to see the financial crisis... Read More
Kenneth Arrow and the Information Matrix
Nobel prize winning Economist Kenneth Arrow’s 2008 insights into the financial crisis highlighted a giant hole in standard economic theory. Professor Arrow observed... Read More
None are So Blind as Those Whose Finances Depends on Their Not Seeing
In 2009, I first used the term Opacity Protection Team to reference all the financial market participants who objected to the return... Read More
With Such Friends [as Academics], Who Needs Lobbyists?
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The title for this post comes from Stanford business school professor Anat Admati’s “It Takes a Village to Maintain a Dangerous Financial... Read More
How Wall Street Conquered the World Without Firing a Single Shot
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The preface to Transparency Games has aged well and is more relevant today than when I wrote it: There are events, such as the... Read More
Financial Stability and Regulation
Ten years after the acute phase of the Great Financial Crisis has financial stability been restored or are we teetering on the... Read More
From the Transparency Ends Misbehavior File: Money Laundering
One of the benefits of transparency is it ends misbehavior. Further proof of this was provided by Delaware. A state with a... Read More
Did Hank Paulson Dominate Bernanke’s Thinking?
When I was writing Transparency Games, I noted how important the panicked look on Ben Bernanke’s face was to Hank Paulson getting $750... Read More
The Con-Artist Wing of Economics: Central Bankers
The Federal Reserve lead response to the acute phase of the Great Financial Crisis was based on deceit. The entire narrative used... Read More