Market Transparency Quotes

AIG’s failure was possible because of the sweeping deregulation of over-the-counter (OTC) derivatives, including credit default swaps, which effectively eliminated federal and state regulation of these products, including capital and margin requirements that would have lessened the likelihood of AIG’s failure. The OTC derivatives market’s lack of transparency and of effective price discovery exacerbated the collateral disputes of AIG and Goldman Sachs and similar disputes between other derivatives counterparties. AIG engaged in regulatory arbitrage by setting up a major business in this unregulated product, locating much of the business in London, and selecting a weak federal regulator, the Office of Thrift Supervision (OTS).

One of the demonetization benefits, in some markets like used cars, is that organized, transparent businesses are gaining at the cost of unorganized players.

The SEC does way more good than harm - the last thing I would do is get rid of the SEC...if accounting were thoroughly fixed, a lot of other sins would go away. We're paying a huge price for deterioration of accounting.

Reasonable regulations are essential to protect consumers from harmful practices and ensure that consumer financial markets operate in a fair, transparent, competitive manner.

[Government] regulation is an imperfect substitute for the accountability, and trust, built into a market in which food producers meet the gaze of eaters and vice versa.

We're underscoring to everybody the promise at the heart of the Affordable Care Act, which is quality, affordable health care coverage available in a transparent marketplace for the first time ever.

Real choice is clear information and the right to walk away from a bad deal without leaving your wallet behind.

I had always been interested in markets - specifically, the theory that in financial markets, goods will trade at a fair value only when everyone has access to the same information.

The United States has the best, deepest, widest, and most transparent capital markets in the world which give you, the investor, the ability to buy and sell large amounts at very cheap prices. That is a good thing.

We are headed toward 'perfect capitalism,' when the laws of supply and demand become exact, because everyone knows everything about a product, service or customer. We will know precisely where the supply curve meets the demand curve, which will make the marketplace vastly more efficient.

Regulation of derivatives transactions that are privately negotiated by professionals is unnecessary.

Consumer groups fought hard to provide investor protections for 'special entities' such as pension funds, schools, and municipalities who purchase swaps. No comparable protection exists in the futures market.

The TMPG is the place where market participants recognize and address their responsibilities to each other.

The bottom line is the best consumer protections are competitive, innovative markets that are transparent. Now, they need to be vigorously policed for force and fraud, but the agencies that do that need to be accountable.

If we are really serious about preventing another crisis like the 2008 meltdown we should simply ban complex financial instruments, unless they can be unambiguously shown to benefit society in the long run. This is what we do all the time with other products-drugs, cars, electrical products and many others.

Enterprises of different ownerships should all enjoy fair opportunities and conditions to compete in the market.

Basic labeling and consumer information hasn’t been a chief priority, but hopefully now its starting to change.

As a whole, investors should welcome attempts to safeguard the integrity of markets. You need very clear rules applied to markets.

We marked a milestone for consumer empowerment when we began to publish consumer complaint narratives which allow people to share in their own words their experiences in the consumer financial marketplace.

Traditionally, companies have made major announcements before or after the close of trading so that all interested investors and analysts are apprised of the news before trading resumes in their stocks.

Markets work when people can evaluate the prices and risks of different products, then pick the ones that work best for them. But when the terms of the deal are hidden, competition doesn't work. And customers aren't the only ones who are hurt.

The problems that exist on Wall Street today go to the center of a debate in this country about wealth and democracy. We cannot keep our democracy if those who are in charge of handling the engines of our economy are not honest with their shareholders. That's why there is a role for government regulation here. That role for government is breaking up the monopolies, insisting on public disclosure, insisting on public audits, insisting on restitution whenever someone has been cheated.

Free markets work better when information is available.

We think nothing of protecting consumers from faulty toasters or unsafe cars. Is it unreasonable to suggest that investors are entitled to information they can trust before investing their hard-earned money? I don't think it's unreasonable at all.

We never will have any prosperity that is free from speculation till we pass a law that every time a broker or person sells something, he has got to have it sitting there in a bucket, or a bag, or a jug, or a cage, or a rat trap, or something, depending on what it is he is selling. We are continually buying something that we never get from a man that never had it.