Market-driven transparency

Market-driven transparency

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Transparency has been the abiding watchword throughout the financial crisis. Significant elements of legislation spawned by the crisis have been intended to force greater disclosure and improve the quantity and quality of the information available to market participants and especially to regulators. In virtually all the discussion over transparency, though, it has been assumed that information will always be hoarded by private actors and that only legal compulsion can change that. It is worth

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