There is no reason to continue to exempt financial services and products from Value Added Tax in the UK, and indeed elsewhere. Its introduction in the UK would be likely to precipitate the end of the iniquitous and inefficient ‘free banking' system. Its demise should anyway be enforced by a...

This essay shows that government credit-allocation schemes generate incentive conflicts that undermine the quality of bank supervision and eventually produce banking crisis. For political reasons, most countries establish a regulatory culture that embraces three economically contradictory...

Ethics is an entire body of principles and measures, which investigates the values, norms and rules that govern the individual and social relations of the human beings, from a moral viewpoint which is essentially based on the parameters of right-and-wrong, good-and-bad, etc. Professional ethics...

There is no reason to continue to exempt financial services and products from Value Added Tax in the UK, and indeed elsewhere. Its introduction in the UK would be likely to precipitate the end of the iniquitous and inefficient ‘free banking' system. Its demise should anyway be enforced by a...

This essay, based on the author's presentation last September to the annual meeting of the North American Securities Administration Association (NASAA), addresses several issues related to Rule 506, the most widely-used of the SEC's transactional exemptions from federal registration of...

Banks and other financial institutions which were too-big-to-fail (TBTF) played a central role during the Global Financial Crisis of 2007-2009. The present article lays out how misguided policies enabled banks to grow both in size as well as in complexity and therefore acquire TBTF status,...