Lies and Democracy
Senator Daniel Patrick Moynihan famously quipped “you are entitled to your opinion, but you are not entitled to your own facts”. Unfortunately,... Read More
“Great Leaders Trust People With the Truth”
Unlike the Great Financial Crisis, the CoronaVirus Crisis has resulted in a call for leadership to provide transparency. Why? Dov Seidman provided... Read More
Leadership and the Trump Covid-19 Press Conference Meltdown
Several weeks ago, I wrote a post on an excellent article by Harvard Professor Amy Edmundson is which she said in a... Read More
Rebuilding Trust and Confidence in the Financial System
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The Transparency Task Force asked why does greater transparency restores trust and confidence in the financial system. The short answer: we “Trust”... Read More
Fix for Rating Firms Shows Dodd-Frank Designed to Fail
The primary purpose of the Dodd-Frank Act was to prevent real reform of the financial system. It was very successful at that.... Read More
You can have Democracy or Financial Opacity, but you cannot have both
Since the Great Financial Crisis began on August 9, 2007, global policymakers have demonstrated you can have Democracy or Financial Opacity, but... Read More
Do Investors Know They Have Blindly Bet $3+ Trillion?
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Have asset managers told investors (the people and firms who actually put up the money) they have blindly bet the investors’ money... Read More
“Liquidity Dies in Darkness”
Zero Hedge carried a very interesting post on the increasingly opaque debt markets. Its conclusion: Yet while passive investing dominates on the... Read More
If Investors …
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I am frequently asked “if investors want more information, why don’t they just ask for it?”. The short answer is investors do... Read More
“How Neoliberal Economists Faith in Themselves Broke America”
The cult of the PhD Economists managed to do what no other country has been able to do: undermine America. Not only... Read More
Volcker Rule Rewritten to Wall Street’s Exacting Specifications
Under the leadership of the Trump Administration, financial regulators rewrote the regulations enforcing the Volcker Rule. The reason given for this action... Read More
Minsky on Transparency
For a change of pace, I will let Economist Hyman Minsky explain the role of transparency in the financial system and how it... Read More
Economists Know Nothing When It Comes to Financial Crises
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While still the Fed chair, Janet Yellen gave an interesting speech on October 14, 2016 in which she pointed out when it... Read More
The Myth of Information Overload
Even more than Wall Street, the Priesthood of the Economic PhDs champions greater levels of opacity in the global financial system. Why?... Read More
MMT: I say tomaato, they say tomato
In an earlier post, Even with MMT, Economics still struggles with financial crises, I managed to convey much more disagreement with the advocates of... Read More