Third Point in the 10 Point Recovery Plan

As happened after the crash of 1929, the United States will lead the way soon in tightening disclosure rules concerning publicly traded debt and equity securities. Existing disclosure standards, especially for government debt and for shares in large, complex multi-national companies are woefully subpar. We are headed towards an epic reversal of fortune in our financial markets--afterwards, public sentiment will turn against cronies in both political parties who believe, wrongly, they have to pretend the system was fixed starting in 2008. It certainly was not fixed, as the world shall soon see.