Economists, Lawyers and the Myth Investors Confused by Too Much Disclosure
Since the beginning of the Great Financial Crisis, I have talked to hundreds of economists and lawyers who believe the myth too... Read More
Economists and Opacity
Since the beginning of the Great Financial Crisis, I have met too many PhD Economists to count who accept the idea opacity... Read More
“Liquidity Dies in Darkness”
Zero Hedge carried a very interesting post on the increasingly opaque debt markets. Its conclusion: Yet while passive investing dominates on the... Read More
If Investors …
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I am frequently asked “if investors want more information, why don’t they just ask for it?”. The short answer is investors do... Read More
Stress Tests and the Black Hole Surrounding Derivatives
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Regular readers know I have been consistently critical of the Office for Financial Research. Today, courtesy of Pam and Russ Martens, it... Read More
Opacity, Derivatives and Financial Crises
In a terrific article, Pam and Russ Martens highlight why opacity is the necessary condition for a financial crisis and how nothing... Read More
Economist Susan Strange and the Opacity Protection Team
Have you ever wondered why shortly after the acute phase of the Great Financial Crisis ended transparency wasn’t restored to the opaque... Read More
Deutsche Bank and a “New Era of Transparency”
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Is Deutsche Bank finally going to usher in the new era of transparency it promised investors over a year ago? Highly unlikely.... Read More
The Premature Demise of the Office of Financial Research
I was very surprised by how dramatically the Trump Administration has scaled backed the Office of Financial Research. Why? Doing so reduces... Read More
Disclosure Gaps: Environmental, Social and Governance
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The SEC has been looking for a private market solution like the Transparency Label Initiative to take over its public role of... Read More
ECB Relies on BlackRock to Assess EU Banks
A frequent objection raised by the banks to having to disclose their current exposure details is investors won’t be able to assess... Read More
When Hindsight into the Great Financial Crisis is 20/20
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Wow! The architects of the policy response to the Great Financial Crisis cannot stop themselves from showing how unfit they were for... Read More
Is Financial Regulation Fit for Purpose?
In the aftermath of the acute phase of the Great Financial Crisis, there was a rush to regulate the global financial system.... Read More
Media Proves Its Worth to Wall Street’s Opacity Protection Team
The tenth anniversary of the collapse of Lehman Brothers highlighted why the media is a valuable member of Wall Street’s Opacity Protection... Read More
Control Over Financial Crisis Narrative Strictly Enforced
One of the defining features of the financial crisis since the 2008 acute phase began with Lehman Brothers’ collapse is how tightly... Read More