A report from the inspector general overseeing the government’s bailout of the banking system says the Treasury Department was less than candid last fall about the health of the bailed-out banks. Visiting law Professor Elizabeth Nowicki, a former SEC attorney and Wall Street lawyer, says such lack of transparancy is what caused a run on the banks decades ago.
“It simply does not make good sense from the standpoint of shareholder and economic confidence for the Treasury Department — and any financial entity — to be anything less than completely honest, particularly in a time of banking turmoil and finance difficulty.”
Contact Elizabeth Nowicki at enowicki@bu.edu
