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
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
SEC Commissioner Stein Makes the Case for the Transparency Label Initiative
We live in the Information Age with easy access to experts. Unfortunately, SEC mandated financial disclosure requirements live in the pre-Information Age.... Read More
Disclosure is Today’s Biggest Challenge
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Since the process the SEC uses to set disclosure requirements was captured by Wall Street in the 1990s, issuers have not been... 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
Lehman Collapse Highlights Role of Opacity in Bank Runs
Opacity is a necessary condition for a bank run. In the case of Lehman Brothers, not only was the investment bank opaque,... Read More
How Risky is Deutsche Bank?
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This week word leaked out the FDIC put Deutsche Bank’s US subsidiary on its list for problem banks. The Fed cited it... Read More
Accountants and the Materiality Clause
As a follow-up to my first post on Too Big to Disclose, I want to look at the issue of why accountants... Read More
Too Big to Disclose
I would like to thank Professor George Georgiev for the expression “Too Big to Disclose”. He uses it in the title to... Read More