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Opinion Pieces


Milton Friedman and the Need for Justice, ProMarket | October 5, 2020, reprinted as "Anat Admati on Milton Friedman and Justice," Stanford GSB Insight, October 8, 2020

Bad Policies Encourage and Tolerate Excessive Fragility, in OECD New Approaches to Economic Challenges: The Financial System, Summer 2020

 Without Universal Testing, Recovery will be Slow, in "How to recover from the economic catastrophe we’re in," LA Times | May 31, 2020  PDF

Letter to Congress on Corporate Bail Outs (Signed by over 230 leading Professor of Finance, Law and Economics), ProMarket | March 24, 2020

Democracy and Prosperity Require Uncorrupted Governments, Stanford GSB Insights | February 14, 2020, reprinted from Stanford Social Innovation Review Supplament on Realizing Democracy, winter 2020 (also reprinted as Other People’s Money). 


Political Economy, Blind Spots, and a Challenge to Academics, ProMarket | November 15, 2019

How Business Schools Can Help Restore Trust in CapitalismPDF  Harvard Business Review  |  September 3, 2019


Fix the regulatory flaws in our fragile financial system, or risk another crisisCity A.M. | June 12, 2018

Risks Grow as Reform Resolve Disappears, 2018 Global Public Investor, Official Monetary and Financial Institutions Forum  

Financial crises, corporate scandals and blind spots: who is responsible?, London School of Economics Blog | January 25, 2018


Why Financialized Corporate Governance Works Poorly, The Harvard Law School Forum on Corporate Governance and Financial Regulation | August 9, 2017


In Banking It’s All Other People’s MoneyThe Washington Post | April 22, 2016   PDF

The Financial System Remains Too Fragile, Too Distorted, Too Dangerous, New York Times Room for Debate | April 14, 2016


Janet Yellen, Time 100 most influential people list | April 15, 2015

Where's the Courage to Act on Banks?, Bloomberg View | October 12, 2015 PDF

Designing and Enforcing Effective Financial Regulation, International Banker | May 25, 2015 PDF


The Fed Is Failing to Encourage the Right Investments, New York Times Room for Debate | October 27, 2014

A Reckless Banking Industry is a Drag on the Economy (with Martin Hellwig), Financial Times | September 12, 2014

The Government Let Banks Have Too Much Debt and Not Enough Equity, New York Times Room for Debate | May 20, 2014

Immensity Undermines Responsibility, New York Times Room for Debate | January 12, 2014


Tarp's legacy is disturbing – the bank bailout five years later, The Guardian | October 2, 2013 PDF

Higher equity level for banks not such a bitter pill, Financial Times | September 16, 2013 PDF

Five Years of Financial Non-Reform, Project Syndicate | September 13, 2013 PDF

We’re All Still Hostages to the Big Banks, New York Times | August 25, 2013 PDF

Too Much Equity? In Anything, Brown-Vitter Asks Too Little, American Banker | June 24, 2013 PDF

Letter: Banks are not a special case on debt-equity ratio (with Martin Hellwig), Financial Times | May 20, 2013 PDF

The Emperors of Banking Have No Clothes (with Martin Hellwig), The Globalist | March 19, 2013

Don’t Trust These Bankers Who Want to Raise the Speed Limit (with Robert Jenkins), The Independent | March 15, 2013

Gutting Regulation May Help the Banker, But Harm Society, American Banker | March 8, 2013

Must Financial Reform Await Another Crisis? (with Martin Hellwig), Bloomberg View | February 6, 2013 PDF

The Case Against Banking’s Case for Less Capital (with Martin Hellwig), Bloomberg View | February 5, 2013 PDF

Emperors of Banking Have No Clothes (with Martin Hellwig), Bloomberg View | February 4, 2013 PDF


The Great Bank Escape, Project Syndicate | December 31, 2012 PDF

What Obama Should Do Now: Make the Financial System Safer, The Washington Post | November 9, 2012 PDF

Why the Bank Dividends are a Bad Idea, Reuters | March 14, 2012 PDF

More bank equity serves us all better (with Neil Barofsky), Financial Times | March 6, 2012 PDF


Easing capital rules would lead banks away from vital lending, Financial Times | August 23, 2011 PDF

Greenspan’s reasoning on ‘excessive’ equity is misleading(with 19 academics), Financial Times | August 2, 2011

Beware of Banks’ Flawed Focus on Return on Equity, New York Times DealBook | July 25, 2011 PDF

An Open letter to JPMorgan Chase Board of Directors, Reuters | June 14, 2011 PDF

Battle to Regulate Banks Has Just Begun/Global Level Playing Field Arguments are Invalid (with Martin Hellwig), Financial Times | June 3 & June 7, 2011

Rethinking how banks create value, FS Focus Magazine | June 2011

Containing the Debt Crisis, New York Times Room for Debate | May 24, 2011

Stock Market Sensitivities, New York Times Room for Debate | April 18, 2011

Fed Runs Scared with Boost to Bank Dividends, Bloomberg | Febuary 24, 2011 PDF

Only recapitalized banks should pay dividends (with 16 academics), Financial Times | February 15, 2011

Banks Need to Generate Investor Value without Subsidies, Financial Times | February 9, 2011

Address Excessive Leverage, New York Times Room for Debate | January 31, 2011

Excessive bank dividends drain the system of essential capital Financial Times | January 28, 2011

Dividents Can Wait Until the Banks are StrongerPDF Financial Times | January 19, 2011


Bankruptcy is Not an Option, New York Times Room for Debate | December 8, 2010

What Jamie Dimon Won't Tell You, Huffington Post | December 4, 2010 PDF

Highly leveraged lenders inflict great suffering on society, Financial Times | Deember 2, 2010 PDF

Healthy banking system is the goal, not profitable banks (with 19 academics), Financial Times | November 9, 2010 PDF

How the U.S. Air Force fought suicide, and we can, too, Palo Alto Weekly | April 23, 2010