Fear and bank bailouts
In a speech by Jon Nicolaisen, Deputy Governor of the Central Bank of Norway, he asks should banks be bailed out. No.... Read More
Transparency not needed, investors are stupid
It never ceases to amaze me how many different ways Wall Street’s Opacity Protection Team has of saying “there is no need... Read More
Economists and transparency
“Nobody makes good investment decisions when blindly betting” summarizes my approach to transparency. While occasionally a blind bet will work out well,... Read More
How Wall Street captured disclosure
In Transparency Games, I explain in long form how Wall Street, through the various members of its Opacity Protection Team, managed to capture... Read More
Regulatory Ideologues
In Transparency Games, I talk about Wall Street’s Opacity Protection Team. One member of this team is the regulatory ideologue. The regulatory ideologue... Read More
Economists, financial markets and theory-induced blindness
In Transparency Games, I get to talk about how economists, both academic and those working for the financial regulators, have theory-induced blindness when... 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
Martin Fridson on transparency
In a Bloomberg article, money manager Martin Fridson articulated why the buy-side needs the Transparency Label Initiative™. Describing the impact of investors... Read More
Michael Lewis experiences pushback from Wall Street
In his Vanity Fair article on Flash Boys, Michael Lewis describes the same pushback from Wall Street that I have experienced. In both... Read More
Gaming the stress tests
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The Fed released the results of its annual stress tests and the question was why were JPMorgan and Goldman so close to... Read More