PhD Economist Derp: Confident Idiots and Bank Capital Regulations
Since the Great Financial Crisis began in 2007, I have found myself having frequent exchanges with PhD Economists about transparency, how our... Read More
To Change Economics, Build a New Model
///
“You never change things by fighting the existing reality. To change something, build a new model that makes the existing model obsolete.”... Read More
Wall Street Phishes for Fools, aka Confident Idiots
///
One of the central themes of this blog is Wall Street’s business model of selling opaque investments. Wall Street understands everyone likes... Read More
PhD Economists Explained: Confident Idiots
I came across an article by psychologist David Dunning that does a tremendous job of explaining PhD Economists’ (aka Confident Idiots) actions... Read More
Audit: Too Important to Leave in the Hands of the Big 4 Accounting Firms
The UK is contemplating making the Big 4 accounting firms spin off their auditing arms to end the potential for conflicts of... Read More
Financial Markets: Free versus Regulated
How many times have you heard the call for deregulation in the name of free markets? But does deregulation make any sense... Read More
Committee to Save the Banks’ Offensive Defense of Its Actions
Having chosen to save Wall Street at the expense of the real economy, the Committee to Save the Banks has had to... Read More
PhD Economist Derp: We’re Experts in …
The famous adage “a little knowledge is a dangerous thing” applies to PhD Economists in spades. And nowhere is this more true... Read More
If “The Enemy is Forgetting”, What Explains Committee to Save the Banks?
///
Ten years after they undermined capitalism in America, the Committee to Save the Banks got together to defend their action. The Committee... Read More
The Committee to Save the Banks – Part I: The Background
///
The Committee to Save the Banks sat down for a lengthy, friendly interview for the tenth anniversary of the Great Financial Crisis. What the... Read More
The Committee to Save the Banks – Part II: Opacity and Bank Runs
///
In Part II, I’ll show how the Committee to Save the Banks discussion of the panic, fear and bank runs of 2008... Read More
The Committee to Save the Banks – Part III: Paulson the Puppet Master
///
Before looking at how the Committee to Save the Banks reacted to the acute phase of the financial crisis in 2008, it... Read More
The Committee to Save the Banks – Part IV: Defending the Indefensible
///
The Committee to Save the Banks put on a clinic in their ongoing effort to defend their choice to save the banks... Read More
Is Transparency a 0/1 Variable?
The Transparency Label Initiative treats transparency as a 0/1 variable. Either an investment provides sufficient disclosure so a buyer/seller can know what... Read More
PhD Economist Derp: Financial Regulation Works
A decade has passed since the acute phase of the Great Financial Crisis and the question is finally being asked: does financial... Read More