Bankers rigging markets and the price of money
Deutsche Bank announced today it had entered into a deferred prosecution agreement and paid a $2.5 billion fine. Why? Because it was... Read More
Opacity, mortgage bonds and ‘crap’ emails
Occasionally, investors need a reminder of why nobody makes good investment decisions when blindly betting. Recently, there have been two prominent reminders.... Read More
How Wall Street captures the asset management industry
Most investors don’t realize it, but Wall Street has significant leverage over the asset management industry. This leverage results from the asset... Read More
Regulatory supervision of financial benchmarks insufficient
Reuters reports EU lawmakers have backed new rules to stop bankers rigging financial market benchmarks. In an effort to boost confidence in... 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
Value of opacity to bankers: $100 billion per year
In a very interesting article, David Dayen looks at the incentive bankers had to hide behind the opacity of the securities they... 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