Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Display:
True, but even if that were the case (bwahahaha, nice to laugh sometimes) there would still be a point in sharing it.

Because the systemic risk is linked to very rare events, and with very rare events, no single actor will ever have enough data, at any rate pooling should help us get a better idea (still imperfect of course -there will always be the super rare event that all the data in the world will not help to evaluate, but let's have as much as we can at least).

Earth provides enough to satisfy every man's need, but not every man's greed. Gandhi

by Cyrille (cyrillev domain yahoo.fr) on Mon Mar 4th, 2013 at 09:59:01 AM EST
[ Parent ]
What I mean is, the necessity for a transparent auditing process is self-evident because it's a given that the banker and his auditor are pissing in each other's pockets.

Transparency is valuable not only for evaluating systemic risks, but to (smirk) keep them honest. And that, I suppose, is why the idea will never fly.

It is rightly acknowledged that people of faith have no monopoly of virtue - Queen Elizabeth II

by eurogreen on Mon Mar 4th, 2013 at 11:29:28 AM EST
[ Parent ]
Well, if regulators see their role as preserving the nice I-scratch-your-back-you-scratch-mine arrangements, sure...

But maybe if there were enough political pressure things could change for the better (anyway the alternative is just complaining about how much worse things have become without any fightback).

Earth provides enough to satisfy every man's need, but not every man's greed. Gandhi

by Cyrille (cyrillev domain yahoo.fr) on Mon Mar 4th, 2013 at 11:39:27 AM EST
[ Parent ]

Display:

Top Diaries

Occasional Series