http://www.concurringopinions.com/archives/2008/09/fairfax_on_too_1.html The Law, the Universe, and Everything Tue, 14 Feb 2012 05:18:12 +0000 hourly 1 http://wordpress.org/?v=3.2.1 http://www.concurringopinions.com/archives/2008/09/fairfax_on_too_1.html/comment-page-1#comment-47200 Frank Thu, 18 Sep 2008 00:58:14 +0000 http://www.solove.org/archives/2008/09/fairfax-on-too-big-to-fail.html#comment-47200 This is a very powerful argument for transparency. Deregulationists have endlessly reassured us that the people in these companies "know what they are doing," that regulation would just "get in their way," that valuable trade secrets needed to be protected from disclosure. What if the value of the trade secrets consisted in little more than tactics to divert massive fortunes to insiders, and deceive outsiders as to the nature of the risks involved? This is a very powerful argument for transparency. Deregulationists have endlessly reassured us that the people in these companies “know what they are doing,” that regulation would just “get in their way,” that valuable trade secrets needed to be protected from disclosure. What if the value of the trade secrets consisted in little more than tactics to divert massive fortunes to insiders, and deceive outsiders as to the nature of the risks involved?

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