Lack Of Transparency Famous Quotes & Sayings

Goldman Sachs itself - and so Goldman was in the position of selling bonds to its customers created by its own traders, so they might bet against them. Secondly, there was a crude, messy, slow, but acceptable substitute for Mike Burry's credit default swaps: the actual cash bonds. According to a former Goldman derivatives trader, Goldman would buy the triple-A tranche of some CDO, pair it off with the credit default swaps AIG sold Goldman that insured the tranche (at a cost well below the yield on the tranche), declare the entire package risk-free, and hold it off its balance sheet. Of course, the whole thing wasn't risk-free: If AIG went bust, the insurance was worthless, and Goldman could lose everything. Today Goldman Sachs is, to put it mildly, unhelpful when asked to explain exactly what it did, and this lack of transparency extends to its own shareholders. If a team of forensic accountants went over Goldman's books, they'd be shocked at just how good Goldman is at hiding things, — Michael Lewis

Things will absolutely go wrong. In a healthy team, as soon as things go wrong, that information should be surfaced. Trying to hide or obscure bad news creates an environment of distrust or lack of transparency. — Steven Sinofsky

The government must give proper weight to both keeping America safe from terrorists and protecting Americans' privacy. But when Americans lack the most basic information about our domestic surveillance programs, they have no way of knowing whether we're getting that balance right. This lack of transparency is a big problem. — Al Franken

It's not unfortunate that people aren't genuine; what's unfortunate is that insincere people try to act sincere and in doing so, mislead and deceive the other. I would rather meet a person who is not amiable and who does not feel any burden to act amiable towards me, than to have the misfortune of knowing people who feel like they need to be gracious and compassionate so they will appear to be good people, whilst possessing none of those qualities within themselves! It's the latter that causes the pain in life. And that's another reason why I don't believe in religion; I have observed that religion tells people that it is highly prized a quality to act kind and compassionate and so on and so forth, but some people just do not have these innate qualities within them! We get deceived, and I'd rather not be deceived! I'd rather be able to see a person for who he/she is and not judge a brute for being a brute, but avoid the brute who carries the burden of acting like a wonderful one! — C. JoyBell C.

An overall picture of how a developing country with considerable amount of natural resources may get in trouble can be described by discussing the lack of absorption capacity where overspending on domestically produced goods leads to increased price level.Further, an inefficient choice of public policy cause poor economic performance through the mismanagement of budget expenditure. In this case governments undertake projects not to achieve social optimality rather to increase their fame. Hence "easy money" may easily lead to increased corrupt activities in contracting projects thereby affecting negatively the transparency level and the competitiveness of market economy — Anonymous

So why didn't ABCP investors -- at least the large institutional investors -- have a better grasp of the uncertain nature of market disruption triggers as defined under Canadian-style liquidity? Probably because the contracts were not available for review to investors wishing to purchase ABCP -- yet another example of the lack of transparency surrounding the distribution and sale of this product. — Paul Halpern

Conflict of interest and lack of transparency, though they are global features as we saw post-Iraq, almost define Indian cricket. — Harsha Bhogle

My love, my love, is a flame in the dark covered in glass. So glowingly beautiful to others on the outside, while slowly suffocating inside. — Anthony Liccione

Lack of transparency is a huge political advantage. Call it the stupidity of the American voter or whatever, but basically, that was really, really critical for the thing to pass. — Jonathan Gruber

A lack of transparency results in distrust and a deep sense of insecurity. — Dalai Lama

Some said America took a step forward electing a black president. In light of the unconstitutiona l expansion of powers, lack of transparency and fueling the fires of unrest that clearly hasn't been the case. Vote based on merits, not to fill a racial quota. — Denzel Washington

A lack of transparency that fuels the idea that she is either hiding something or simply not someone to be trusted. — Christopher Michael Cillizza