The Economist Shines a Bright Light on GE’s Opacity
If your were a subscriber to the Transparency Label Initiative, you would know GE doesn’t qualify for a label indicating it provides... Read More
Global Financial System Still Not Fixed
///
A decade after the opacity driven Great Financial Crisis began, the only significant theoretical insight into opacity has been the Information Matrix... Read More
Credit Suisse’s Thiam Pushes Transparent Lending Covenant
Even the banking industry realizes there is no reason not to disclose a loan once it has been made. The latest example... Read More
Bernanke and the Information Matrix
In an excerpt from his book on how he saved the global financial system, Ben Bernanke observed in talking about the opaque... Read More
What Happened to the Call for an End to the “Age of Irresponsibility”?
In a late September 2008 speech to the UN, Gordon Brown, then the UK’s prime minister, called for an end to the... Read More
Answering Thaler’s Calls for Good Nudges
At a banquet prior to accepting his Economics Nobel Prize, Richard Thaler observed: So what did I discover to get up here?... Read More
Office of Financial Research: Doesn’t Even Work in Theory
Since it was created as part of the 2010 Dodd-Frank Act, the Office of Financial Research has shown why it shouldn’t exist... Read More
The Reasonable Investor and Disclosure
One of the primary tools used by the Opacity Protection Team for limiting disclosure is to hide behind the Supreme Court’s 1976... Read More
Rating Firms and the Information Matrix
The Information Matrix can be used to examine the rating firms’ business model and the impact of the Transparency Label Initiative on... Read More
Transparency is a 0/1 variable
Recently, I was asked why the Transparency Label Initiative treats transparency as a 0/1 variable. The reason is either there is adequate... Read More
Opacity as an Asset Class
Yes, you read that right. Opaque securities should be considered an asset class. But isn’t the Transparency Label Initiative all about dividing... Read More
Ending the reliance on rating firms
Since the financial crisis accelerated in 2008, there has been a search for a solution to the problem of investors, including banks,... Read More
Redesigning the regulatory framework
In his speech on the future of the global financial system before the Bretton Woods Committee, Paul Volcker discussed the need to redesign... Read More
Ending Corporate Tax Avoidance
Norway’s sovereign wealth fund has come out in favor of companies paying taxes where the economic value of their revenue is generated... Read More
Clearly policymakers learned nothing from the financial crisis
Satyajit Das wrote an interesting column about how rather than dismantling the financial doomsday machine that failed so spectacularly in 2008/2009, policymakers... Read More