Fed goes all in on fantasy of “safe” assets
Periodically I read a speech by a Fed Governor that reveals how the economists at the Federal Reserve have absolutely no idea... 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
Bank living wills not fit for purpose
The US Office of Financial Research released a report in which it concluded bank living wills haven’t ended the market’s perception of... Read More
EU officials slowly concluding transparency needed to revive structured finance
Paul Tang, the EU parliament’s lead on reviving structured finance, released a working document on the EU effort to create a framework... Read More
Dodd-Frank supporters struggle to claim it has had a big impact
In a classic main stream media puff piece, the New Yorker ran an article defending the Dodd-Frank Act and asserting its impact... Read More
EU banking supervision becoming more opaque
In an interesting post on Bruegel.org, the authors examine the trend towards more opacity in EU bank supervision. Why is this trend... Read More
Rewriting central bank role as lender of last resort
In his new book, Mervyn King, the former head of the Bank of England, tries to rewrite the role of central banks... Read More
Complex regulations don’t guarantee financial stability
Since before the financial crisis began, I have been explaining why the global financial system is based on transparency complimented by a... Read More
MetLife and why the SIFI designation is a bad idea
As regular readers know, the Dodd-Frank Act is a collection of bad ideas that substitute regulators and complex regulations for transparency and... Read More
Myth: required disclosure means investors can know what they own
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As a result of the SEC calling itself the “investors’ advocate”, a dangerous myth has taken hold in the global financial system.... Read More
Irish Banking Inquiry Part II: Reliance on Regulators foolish
The Irish Banking Inquiry is looking into the causes of and response to the Irish financial crisis. In doing so, it is... Read More
Irish Banking Inquiry Part 1: Regulatory Capture
While Greece is grabbing all the headlines, the Irish Banking Inquiry into the Irish financial crisis deserves its fair share of attention.... Read More
PwC auditor explains why transparency is necessary
The Irish Banking Inquiry turned to the bank auditors for an explanation of how the Irish banking system collapsed. In particular, the... Read More
Wall Street’s bad behavior to continue until transparency restored
In Transparency Games, I discuss a survey by the law firm of Labaton Sucharow. It found the more Wall Street bankers are... 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