Too Big to Disclose
I would like to thank Professor George Georgiev for the expression “Too Big to Disclose”. He uses it in the title to... Read More
The Sorry State of Central Bankers’ Understanding of Transparency
///
Geoff Bascand, Deputy Governor of the Reserve Bank of New Zealand, provided an excellent snapshot of the current state of central bankers’ understanding... Read More
PhD Economist Derp: Macro Prudential Works in Practice
Macro prudential regulation is bad in theory and even worse in practice. In theory, financial regulators are suppose to scan the financial... Read More
PhD Economist Derp: Financial-Storm Forecaster
Perhaps the peak of PhD Economist Derp occurred when several Nobel prize winning Economists publicly calling for the creation of the Office... Read More
William White: Still Need to Deal with Bad Debt
In his Financial Times editorial, William White urges we prepare for the next financial crisis now. For those of you who don’t... Read More
PhD Economist Derp: Assume Transparency Exists
///
Yesterday, I wrote about a 1926 Atlantic Magazine article written by William Z. Ripley. This article, Stop, Look, Listen! The Shareholders’ Right to... Read More
Shareholders’ Right to Adequate Information Redux
The need for transparency so investors can know what they own is an idea that has withstood the test of time. It... Read More
PhD Economist Derp: Are Banks Opaque? No!
PhD Economists at the BIS set off to find out if banks are opaque (hint: the BoE’s Andy Haldane referred to them in... Read More
Information Matrix and Brevan Howard Centre Research Agenda
///
Recently, I stumbled across the research agenda for the Imperial College London’s Brevan Howard Centre for Financial Analysis. The Lion’s Share of... Read More
PhD Economist Derp: Shadow Banking is a Creature of the Night
///
Since the acute phase of the Great Financial Crisis began in September 2008, there has been an explosion of articles by PhD... Read More
PhD Economist Derp: The Pretense of Knowledge
PhD Economist Derp knows no limits when their self-proclaimed expertise in markets is challenged. Harvard professor Dani Rodrik suggests ten commandments for... Read More
Clayton led SEC Highlighting Importance of Transparency Label Initiative
///
To no one’s surprise, the latest member of the Opacity Protection Team to be appointed chairman of the SEC is looking to... Read More
PhD Economist Derp: Macro-Prudential Regulation
///
Macro-Prudential regulation is the regulatory embodiment of PhD Economist Derp. The ECB offers a quick guide into what it is and what... Read More
PhD Economist Derp: Safe Assets
Safe assets represents yet another area of massive PhD Economist Derp. As the ECB said in its review of the literature on... Read More
The “We Prevented a 2nd Great Depression” Lie has Proven Very Costly
As the billionaire boys gather at Davos, it is time to reflect on how costly the lie the policy responses to the... Read More