A new Stigler Center case study chronicling the story of Chile’s first crowdfunding platform and its early regulatory challenges illustrates how financial regulations can be effectively used by incumbents to stifle competition.
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Blockchains and Corporate Finance: “In a Blockchain Market, Shareholder Activists Might Play Much Less of a Role”
Will blockchain technology lead to less shareholder activism and higher executive compensation? Watch David Yermack’s full Stigler Center lecture on the potential implications of blockchain technology for the future of corporate governance. Second part of a three-part series.
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Wells Fargo and the Failure of Boards and Regulators
Two new reports concerning the Wells Fargo scandal suggest that the bank’s senior management, its board of directors, and the regulators all knew about the bank’s toxic practices, yet for years did nothing to stop them.
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I Was a Whistleblower. The Fed Is Not Doing Enough to Fix Wall Street’s Culture of Fear
Deutsche Bank whistleblower Eric Ben-Artzi, who publicly rejected a multimillion dollar award from the Securities and Exchange Commission this summer, writes about the failure of regulators to fix the culture that wreaked havoc on the financial system.
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Could the Fed Have Rescued Lehman Brothers? Q&A with Laurence Ball
A new study argues that the Federal Reserve could have saved Lehman Brothers from bankruptcy, but chose not to, partly because of political pressures.
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Revolving Doors in the Private Sector: Quid Pro Quo or Efficient Market Mechanism?
A new paper by Elisabeth Kempf from the University of Chicago looks into the performance of credit analysts who left to work for investment banks and finds that they were more accurate than their peers.
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Could Blockchain Technology Alter the Balance of Power Within the Financial System? Q&A with David Yermack
“Blockchain technology is threatening to remake the financial system from the top down in a way that threatens the existence of all the banks, stock changes, and all of the legacy financial institutions. I expect that within the next 10 years, probably half of the banks will be gone.”
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Watch: Deutsche Bank Whistleblower Eric Ben-Artzi Explains What it Takes to Blow the Whistle on Fraud
Ben-Artzi: “The problem is not that you have misbehavior on Wall Street. It’s that you have misbehavior by the people who are supposed to enforce the law, by the prosecutors, by the regulators.”
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Stigler Center Event: David Yermack on Blockchains and the Future of Finance
Yermack, the Albert Fingerhut Professor of Finance and Business Transformation at New York University Stern School of Business, will teach a mini-course of three stand-alone lunch seminars on the potential implications of blockchain technologies at the Stigler Center next week.
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It Takes a Village to Maintain a Dangerous Financial System: Q&A with Anat Admati
Stanford professor Anat Admati discusses her new paper, in which she explains how a mix of distorted incentives, ignorance, confusion, and lack of accountability contributes to the persistence of a dangerous and poorly regulated financial system.
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The Non-Performing Assets of Wells Fargo
The entire board of Wells Fargo, not just the CEO, needs to be replaced.
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Stigler Center Talk: Deutsche Bank Whistleblower on the SEC and Revolving Doors
Eric Ben-Artzi, the former Deutsche Bank risk officer turned whistleblower who rejected a multi-million dollar award from the SEC, will give a talk at the Stigler Center on Thursday via video conference.
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