A Reduction in Disclosure is a Sure Sign a Firm is Having Problems
One of the great truisms of investing is firms try to hide the fact they have encounter problems with their business. The... Read More
The Economics Profession Chooses Ignorance
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The Economics profession is still without an explanation for why the Great Financial Crisis occurred that doesn’t leave out inconvenient facts. Specifically,... Read More
Fight Over Regulation is One Only Wall Street Can Win
The idea regulations and regulatory enforcement will prevent the next financial crisis is a joke. It completely ignores the fact Wall Street’s... 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
SEC Wants Transparency Label Initiative to Succeed
Even the SEC realizes the process it uses for setting disclosure requirements has been captured by Wall Street. To compensate for Wall... 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
Why We Need to Update Financial Reporting
The idea investors need to get together so they can get the information they need to “know what they own” has managed... Read More
Intellectual Honesty and Economics
After winning a share of this year’s Nobel prize in Economics, Paul Romer repeated his called for intellectual honesty in Economics (apparently... Read More
Accountants Don’t Understand Transparency Too
Most of the time when I am debunking an academic paper that says “opacity is good” it is written by someone with... Read More
Certificate of Dumb Investment
In his daily newsletter, Bloomberg columnist Matt Levine wrote on Earning the Right to Get Swindled. He debunked the notion that because... Read More
Why the Financial Crisis Narrative Matters
George Soros and Rob Johnson wrote an editorial that brilliantly illustrates why it was and still is important to have the right... Read More
What Kind of Financial System Do We Want?
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As journalists and columnists continue to churn out articles on the tenth anniversary of Lehman Brothers’ collapse, it is worth pointing out... Read More
The Battle for Financial Stability
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You cannot win the battle for financial stability until you know what causes financial instability (aka financial crises). But not knowing hasn’t... Read More
Why Has So Little Changed Since Lehman Failed in 2008?
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The Financial Times’ Martin Wolf looked at the response to the Great Financial Crisis and discovered the problem with Committee to Save... Read More
Capitalism’s Near-Death Experience Is Still a Golden Opportunity
The tenth anniversary of the Committee to Save the Banks’ decision to put Wall Street ahead of Main Street has unleashed a... Read More