In order for capital markets to function well, investors need accurate information about securities. If investors do not trust firms’ disclosures, they will discount what they are willing to pay for securities, increasing the cost of capital and thereby making it more difficult, even for honest firms, to fund productive endeavors. Moreover, investment decisions based on inaccurate information distort the efficient allocation of resources in an economy.
Mike Pence is arguing that the Vice President is a legislative, not an executive, officer. Mike Luttig has a piece in the NYT calling that crazy. (Link is to Josh Blackman’s blog post on same..
After 20 years as a professor and department head, Eric Williams is considering a move into the Florida State University System. But given recent changes under Gov. Ron DeSantis, he has worries.