Economists Admit Financial Crises Originate in the Shadows
MIT’s Kristin Forbes and Harvard’s Kenneth Rogoff recently observed risk has migrated beyond the regulatory perimeter into the shadows of the global... Read More
Wall Street’s Derivatives Casino Still Opaque to Regulators
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Michael Greenberger’s paper on the ongoing opacity of Wall Street’s derivatives casino serves as a reminder why restoring transparency is so important.... Read More
PhD Economist Derp: Macro-Prudential Regulation
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Macro-Prudential regulation is the regulatory embodiment of PhD Economist Derp. The ECB offers a quick guide into what it is and what... Read More
Global Financial System Still Not Fixed
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A decade after the opacity driven Great Financial Crisis began, the only significant theoretical insight into opacity has been the Information Matrix... Read More
Shadow Banking Comes Under Fire
In a recently released report, the US Treasury confirmed its membership in the Opacity Protection Team and attacked the use of the term... Read More
Fed confirms none are so blind as those whose job depends upon not seeing
Periodically I delude myself into thinking senior Fed officials/PhD economists actually understand how our financial system is designed and is suppose to... Read More
False claims used to defend gutting Dodd-Frank
I never cease to be amazed by the gap between what defenders of Dodd-Frank claim is a problem with the financial system... Read More
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
Volcker highlights needs for the Initiative
Paul Volcker unveiled his contribution to further financial legislation, also known as Dodd-Frank 2.0, with his Reshaping the Financial Regulatory System. In... Read More
Regulators worry about how to regulate shadow banking
One of the reasons our financial system is not designed to be dependent on regulators to control systemic risk is the sheer... Read More