Fixing Libor simpler and easier than replacing it
The financial crisis revealed bankers were rigging Libor for personal profit. Since then, regulators have been searching for a solution to either... Read More
EU regulations spurring growth of independent research business
Underlying the global financial system is a basic quid pro quo. Investors get transparency in exchange for assumption of all risks related... Read More
The financial crisis response that didn’t fix underlying cause of crisis
In a must read Guardian column, Joris Luyendijk looks at the the response to the financial crisis over the last nine years... Read More
Yale’s reputation used to defend failed response to financial crisis
Several years ago, I coined the expression Opacity Protection Team as shorthand for all individuals and institutions that enabled Wall Street to... Read More
Political power and transparency
In politics, true power is shown by the ability to steer the conversation to what you want to talk about and away... Read More
Matt Levine makes the case for banks providing transparency
In his Bloomberg View Money Stuff column, Matt Levine looks at Deutsche Bank’s choice to raise capital by selling shares to employees... Read More
Is there anything as misunderstood in Economics as transparency?
///
The following is an excerpt from Transparency Games highlighting just how misunderstood transparency is by the Economics profession: Recall that, including myself, there... Read More
Confusing transparency with a risky investment
Periodically, a reporter will try to highlight why a security is a risky investment and will undermine their analysis by suggesting transparency is... Read More
SEC begins project “Information Overload”
In Transparency Games, I discuss in detail how SEC Chairwoman Mary Jo White’s highest priority upon taking office was and still is... Read More
The quarterly disclosure and investment myth
As the SEC launches a review of its minimum corporate disclosure requirements, the Opacity Protection Team has sprung into action. One myth... Read More
Myth: required disclosure means investors can know what they own
///
As a result of the SEC calling itself the “investors’ advocate”, a dangerous myth has taken hold in the global financial system.... Read More
Lender of Last Resort
A bipartisan bill has been introduced by Senators Vitter and Warren that would change how the Fed could implement its lender of... Read More
Regulators’ affinity for complex regulations
During the run-up to our recent financial crisis, deregulation was in vogue. However, since the crisis began, our global financial regulators have... Read More
Transparency not needed, investors are stupid
It never ceases to amaze me how many different ways Wall Street’s Opacity Protection Team has of saying “there is no need... Read More
How Wall Street captured disclosure
In Transparency Games, I explain in long form how Wall Street, through the various members of its Opacity Protection Team, managed to capture... Read More