Op-Ed Friday: Today's Chuckle

  • Published: May 15th, 2009
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It’s Friday, and a big hat tip to John for this very funny article from Reuters:

PARIS, May 14 – The U.S. government’s recent bank stress tests were all about clarity. With hard data and clear facts, they shone a bright light on the shadowy uncertainties of complex financial transactions.

The question now is: Will this sort of clarity be a part of doing business in the financial industry?

Bank regulators in the European Union should look at the U.S. example and make results of their upcoming stress tests of European banks transparent to the public.

Currently, they intend to inform only the EU finance ministers and executive agencies.

U.S. Treasury Secretary Timothy Geithner hit it on the head when he said last week, "There is a reassurance in clarity."

Geithner is right, there is reassurance in clarity.  It’s too bad that the stress tests provided the clarity of a solar eclipse.

 

So is there anything out there where we can shine a bright light and banish the shadowy uncertainties?  This is an open thread, so the floor is yours.

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