![](https://clsbluesky.law.columbia.edu/wp-content/uploads/sites/2/2023/06/alireza-e1687288650755.jpg?w=150&h=188&crop=1)
Why Markets Need More Information to Properly Monitor Banks
Substantively, banks are pooled investment funds, like mutual funds, exchange traded funds, and so on: They take people’s money and use it to buy financial assets. There is one crucial difference, however. In those other funds, losses are immediately passed …