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
Is the global financial system safer?
I admit “is the global financial system safer” is a trick question. Answering it requires two pieces of knowledge: what are the... Read More
Volcker highlights needs for the Initiative
Paul Volcker unveiled his contribution to further financial legislation, also known as Dodd-Frank 2.0, with his Reshaping the Financial Regulatory System. In... Read More
Dodd-Frank 2.0: reforming regulatory structure
In an interesting speech, Senator Elizabeth Warren throws down the gauntlet and calls for reform of the financial regulatory structure that was... Read More
Paul Volcker and meaningful financial reform
In a Washington Post editorial, Paul Volcker laid out why meaningful reform of the financial regulatory structure is needed. In doing so,... Read More
Can SEC and Initiative peacefully co-exist?
Recently, I was asked if the SEC and the Transparency Label Initiative™ can peacefully co-exist or will the SEC want to regulate... Read More
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
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
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
The Courage to Act
Like Tim Geithner’s Stress Test, Ben Bernanke’s upcoming The Courage to Act is a long form defense of the decisions he made and the... Read More
Economists and financial stability
As a result of the recent financial crisis, attention has been focused on the need for financial stability. To address this need,... Read More