The Lies We Were and Are Being Told
For over a decade, I have written about the lies we were and are being told about the Great Financial Crisis and... Read More
The Illusion of Technocratic Competence
The Economic profession’s and the financial regulatory community’s illusion of technocratic competence is like Dracula. It refuses to die. Wouldn’t you have... Read More
Fight Over Regulation is One Only Wall Street Can Win
The idea regulations and regulatory enforcement will prevent the next financial crisis is a joke. It completely ignores the fact Wall Street’s... Read More
Funding Guarantees End Financial Panics and Bank Runs
For the last decade, I have been pointing out funding guarantees ended the acute phase of the Great Financial Crisis. The vast... Read More
The Shame of the Economists: They Chose to Make Themselves Irrelevant
In 2008, the Queen of England asked the Economics profession why it hadn’t seen the financial crisis coming. After mumbling a bunch... Read More
Regulation and Its Enforcement is NEVER a Good Substitute for Transparency
In the 1930s, policymakers had to make a choice. They could redesign the financial system so it was dependent on transparency or... Read More
Anna Schwartz: Saving Banks Won’t End Well
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In an October 2008 Wall Street Journal interview, Economist Anna Schwartz unloaded on the Committee to Save the Banks’ response to the... Read More
SEC Commissioner Stein Makes the Case for the Transparency Label Initiative
We live in the Information Age with easy access to experts. Unfortunately, SEC mandated financial disclosure requirements live in the pre-Information Age.... Read More
Continental Illinois & the Great Financial Crisis
Former Fed chair Paul Volcker recently offered up his view that “we are in a hell of a mess in every direction”.... Read More
The Premature Demise of the Office of Financial Research
I was very surprised by how dramatically the Trump Administration has scaled backed the Office of Financial Research. Why? Doing so reduces... Read More
Disclosure is Today’s Biggest Challenge
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Since the process the SEC uses to set disclosure requirements was captured by Wall Street in the 1990s, issuers have not been... Read More
Volcker: A Hell of a Mess in Every Direction
In a recent interview, former Fed Chair Paul Volcker offered up his view we are in a “hell of a mess” a... Read More
Exaggerating What Bank Supervision Can Do Creates Systemic Risk
Former NY Fed bank examiner Carmen Segarra has once again shined a bright light on the gap between the narrative and reality... Read More
Bank Troubles: Liquidity or Solvency
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As the Committee to Save the Banks continues its tenth anniversary of the acute phase of the Great Financial Crisis tour, they... Read More
SEC Wants Transparency Label Initiative to Succeed
Even the SEC realizes the process it uses for setting disclosure requirements has been captured by Wall Street. To compensate for Wall... Read More