The Corner

Transparency?

As it turns out, I do not agree with Andrew Redleaf and Richard Vigilante on what to do about banks.  I don’t see how transparency solves the too-big-to-fail problem.  The problems at Freddie, Fannie, and Lehman were plenty transparent, but creditors kept lending to them anyway, counting on Uncle Sugar for a bailout. Longer explanation here.

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Illegal leaks of classified information should be treated as a serious offense. But they would be easier to prevent if less information were classified.