Showing posts with label disclosure. Show all posts
Showing posts with label disclosure. Show all posts

Wednesday, December 26, 2018

Weening the American Voters off Reliance on the Media in Selecting Candidates

How well do voters (i.e., an electorate) know and thus are able to assess people running for public office? As the proportion of people who know a candidate firsthand decreases, the importance of the campaign ads and debates increases. In other words, the candidate's marketing plays a greater role in who wins. At an empire-level, such as the U.S. Government, an overwhelming percentage of people in an electorate (e.g., voting in a U.S. Senate race, or that of the federal president) are significantly influenced by the candidates' respective media campaigns for lack of real knowledge. In a U.S. presidential campaign, financial contributions are vital in being able to orchestrate an empire-wide media campaign. Also, how a campaign manipulates the media coverage of the candidate is very important. The case of Sarah Palin, who ran as John McCain's running mate in 2008, illustrates the extent of distance that can separate what the public "knows" of the real person from the media-made candidate. When people learned of her shocking ignorance of government, the distance was suddenly transparent, and yet no electioneering reforms were subsequently put into effect. Americans still had to rely on presidential debates to get a glimpse of the "man behind the curtain." 

The full essay is at "Weening the American Voters."

Tuesday, July 15, 2014

Wall Street’s Maker-Taker Rebate: An Inherent Conflict of Interest

On June 14, 2014, the U.S. Senate Investigations Committee held a hearing on “High-Speed Stock Transactions and Insider Trading.” The issue at hand concerned the payments that wholesale brokers and exchanges make to brokers for going through the brokers and exchanges, respectively. An academic study had found that the broker or exchange that pays the most is not typically the most efficient, and thus in the best interest of the investor. Essentially, the payments give rise to a conflict of interest for the retail broker, who is supposed to put the client’s financial interest first, before his or her own. Is greater disclosure, such as Sen. Levin suggested, sufficient? I contend that a conflict of interest that is inherently unethical warrants complete removal, rather than merely countervailing measures.


The entire essay is at “Maker-Taker Rebate”