The Information Matrix: Once Seen, Cannot be Unseen
Another day, another Economist attempts to unsee the Information Matrix. Their attempts to unsee would be amusing if we treated Economists like... Read More
After a Decade, the Queen Deserves an Honest Answer
It was almost a decade ago when the Queen of England asked at the London School of Economics how come the Economics... Read More
Noble Prize Winning Economist’s False Narrative About Financial Markets
According to David Warsh, a former Boston Globe columnist and now blogger, in August 2008 Bengt Holmström, a Nobel prize winning MIT... Read More
Economists Demonstrate Difficulty in Escaping Old Ideas
In his General Theory book, Keynes noted: The difficulty lies, not in the new ideas, but in escaping from the old ones.... Read More
Bernanke’s New Financial Crisis Narrative
If at first you don’t succeed, publish a new narrative about the Great Financial Crisis. You have to do this when you... Read More
The Information Matrix and the 2018 Nobel Symposium on Money and Banking
The Information Matrix was the uninvited guest that everyone wished attended the 2018 Nobel Symposium on Money and Banking. Thanks to John... Read More
Protecting Banks at All Costs Still Mission of the Committee to Save the Banks
As we approach the tenth anniversary of the 2008 acute phase of the Great Financial Crisis, the Committee to Save the Banks... Read More
The Committee to Save the Banks Keeps on Protecting the Banks
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As we approach the tenth anniversary of the 2008 acute phase of the Great Financial Crisis, the Committee to Save the Banks... Read More
Behavioral Economics, the Information Matrix and Financial Crises
The Information Matrix provides the framework for understanding financial crises using behavioral economics. Behavioral economics recognizes people like a good story. In... 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
“Transparency: a Necessary, but Not Sufficient Condition…”
Late last week, the Pope cited the need for ethical behavior in finance. To achieve this, he called for restoring transparency across... Read More
The Pope, the Information Matrix and Transparency
In a 10,000 word papal encyclical on the global financial system, the Pope looks at who is doing God’s work. He sides with... Read More
Yale Professor: Basically You Don’t Understand the Crisis
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Yale professor Gary Gorton is the gift that keeps on giving. His latest gift was to inform a Wall Street journal reporter... Read More