Trading in the Closet

We’ve come a long way in the history of American capital markets, a 200 year evolution followed by a 10 year devolution, progression turned to regression in no time at all. After building the most vibrant, open, fair and admirable marketplace on the planet, we decided that this was no good – and so the…

Two Reasons the LIBOR Scandal Matters (and one reason it doesn't)

I’ll be appearing live on the New York Times website, talking about the LIBOR Scandal with Peter Lattman, at 10am.  You’ll be able to watch it live here: http://www.nytimes.com/pages/business/index.html In the meantime, I want to just crystallize what I believe to be the two reasons this all matters and then the one reason why, in…