Opacity in the Financial Markets is the Toxic Side Effect of Information Asymmetry
Wall Street bankers know they make more money selling high margin, opaque products (like structured finance securities) rather than low margin, transparent... Read More
Auditors Forget Discovering Fraud is Their Reason for Existing
In theory, accounting firms focus on ensuring their clients’ financial statements are both accurate and assembled based on generally accepted accounting principles.... Read More
Michael Lewis experiences pushback from Wall Street
In his Vanity Fair article on Flash Boys, Michael Lewis describes the same pushback from Wall Street that I have experienced. In both... Read More