… the Original PDF – Published on The Banker’s New Clothes, by Anat R. Admati, Graduate School of Business, Stanford University, May 2016, 32 pages … if it takes a village to raise a child, it takes a village to abuse a child … the financial system is meant to facilitate efficient allocation of resources and help people and businesses fund, invest, save and manage risks. This system is rife with conflicts of interests. Reckless practices, if uncontrolled by market forces and effective rules, can cause great harm. Most of the time, however, the harm from excessive risk in banking is invisible and the culprits remain unaccountable. They rarely violate the law …; Continue Reading…