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Why not leave it to the experts?

Why not leave it to the experts? Editorial International Journal of Disclosure and Governance (2011) 8, 99 – 102. doi: 10.1057/jdg.2011.3 A criticism often made of academic researchers have been avoided and what needs to be done is that they are too far removed from the to prevent it from happening again. ‘ real world ’ to offer any useful insights. Much The majority report spread blame for the better, so this argument goes, to listen to prac- crisis widely, from the Clinton and Bush titioners who really know what is going on. Administrations to the Federal Reserve on Anyone who has sympathy for this point of the government side, shoddy risk manage- view is not likely to be reading this journal, ment and lending practices on Wall Street but if they are, recent events in the United and the impact of securitization on driving ever States offers a salutary lesson in why some- looser subprime mortgage lending. Nothing times the independence of academics is indis- particularly exceptional in these fi ndings, but pensable in times of controversy and raging the majority report has been highly criticized political partisanship. for being shallow, not going much beyond Last week in Washington DC, the Financial what was already http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png International Journal of Disclosure and Governance Springer Journals

Why not leave it to the experts?

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References (1)

Publisher
Springer Journals
Copyright
Copyright © 2011 by Palgrave Macmillan, a division of Macmillan Publishers Ltd
Subject
Business and Management; Business and Management, general; Accounting/Auditing; Corporate Finance; Corporate Governance
ISSN
1741-3591
eISSN
1746-6539
DOI
10.1057/jdg.2011.3
Publisher site
See Article on Publisher Site

Abstract

Editorial International Journal of Disclosure and Governance (2011) 8, 99 – 102. doi: 10.1057/jdg.2011.3 A criticism often made of academic researchers have been avoided and what needs to be done is that they are too far removed from the to prevent it from happening again. ‘ real world ’ to offer any useful insights. Much The majority report spread blame for the better, so this argument goes, to listen to prac- crisis widely, from the Clinton and Bush titioners who really know what is going on. Administrations to the Federal Reserve on Anyone who has sympathy for this point of the government side, shoddy risk manage- view is not likely to be reading this journal, ment and lending practices on Wall Street but if they are, recent events in the United and the impact of securitization on driving ever States offers a salutary lesson in why some- looser subprime mortgage lending. Nothing times the independence of academics is indis- particularly exceptional in these fi ndings, but pensable in times of controversy and raging the majority report has been highly criticized political partisanship. for being shallow, not going much beyond Last week in Washington DC, the Financial what was already

Journal

International Journal of Disclosure and Governance – Springer Journals

Published: Apr 1, 2011

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