Dodd-Frank Forum: What would Brandeis think? (July 20, 2010)

Louis Brandeis famously coined the metaphor (“sunlight is the best policeman”) that provided the philosophy underpinning the first federal securities... (Category: Masters: Dodd-Frank)

Signing off (November 13, 2008)

Thanks to the folks at the Conglomerate for allowing me this unique opportunity to share my views on similarities between... (Category: Financial Crisis)

Moving Beyond a Streetlight and a Cop on the Beat (November 12, 2008)

In the 1930’s, Louis Brandeis’ image of a sturdy policeman standing by a bright streetlight guided the federalization of financial... (Category: Financial Crisis)

New Names, Old Games (November 09, 2008)

I have highlighted in this series of posts the prominent role that a particular investment strategy, which combines an investment... (Category: Financial Crisis)

David Nason Meet Louis Brandeis (November 04, 2008)

In an earlier post I suggested that a disclosure regime similar to the one imposed on public companies might be... (Category: Financial Crisis)

Robet Shiller’s Goblins (November 02, 2008)

Robert J. Shiller should be applauded for being one of the few economists to consistently explore the potential ramifications of... (Category: Financial Crisis)

Why Margin Requirements Made Sense in 1934 (October 30, 2008)

In an earlier post I endorsed the adoption of restrictions on margin lending as an imperfect, but fundamentally sound, legislative... (Category: Financial Crisis)

SEC Hearing on Mark-to-Market (October 28, 2008)

Tomorrow the SEC will host a roundtable required by the recent bailout legislation to discuss mark-to-market accounting. My guess is... (Category: Financial Crisis)

Have we learned enough from the Crash of 1929? (October 27, 2008)

This is an opportune moment to reflect on any lessons that can be gleaned from the regulatory responses to the... (Category: Financial Crisis)

October 1929 and October 1987: The Link between Buying Stock on Margin and Portfolio Insurance (October 25, 2008)

The October 1929 crash was marked by a few up days and many down days, whereas the October 1987 crash... (Category: Financial Crisis)

VIX in Today’s WSJ (October 23, 2008)

Today’s Wall Street $ournal article on the VIX that does a better job than the New York Times did, but... (Category: Financial Crisis)

More on VIX, Fear, and Portfolio Insurance: A Reply to Professor Sjostrom (October 23, 2008)

My post yesterday argued that the New York Times erred in endorsing the use of the VIX index as a... (Category: Financial Crisis)

The VIX is not a Fear Index (October 21, 2008)

The lead article in the business section of yesterday’s New York Times describes the VIX index (the Chicago Board Options... (Category: Financial Crisis)

On Cox’s NYT Credit Default Editorial: Is Disclosure Enough? (October 20, 2008)

Christopher Cox wrote an editorial yesterday in the New York Times stating the obvious: the credit default swaps market should... (Category: Financial Crisis)

Regulatory Rule #3: Don’t Rely on the Sophistication of Sophisticated Investors (October 19, 2008)

Economists now recognize the pivotal role that portfolio insurance played in the 1987 stock market crash. An obvious follow up... (Category: Financial Crisis)