Schwarcz on Disclosure and the Subprime Crisis

Steven L. Schwarcz (Duke) has posted Disclosure's Failure in the Subprime Mortgage Crisis on SSRN.  Here's the abstract:

This symposium article examines how disclosure, the regulatory focus of the federal securities laws, has failed to achieve transparency in the subprime mortgage crisis and what this failure means for modern financial securities markets.

Ben Barros

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