Opacity Protection Team

What is Wall Street's Opacity Protection Team?

It is the response from Wall Street whenever one of Wall Street's opaque products or activities is threatened with disclosure and the disinfectant of sunlight.

Who is on Wall Street's Opacity Protection Team?

The Opacity Protection Team (OPT) is comprised of the individuals on Wall Street who owe their compensation package to the opacity of the product they sell (think structured finance securities) or activity they engage in (think proprietary trading desks).

Why does Wall Street want opacity?

Because opacity is a major driver of Wall Street's profitability.

As Yves Smith observed on her blog, NakedCapitalism, no one on Wall Street was ever compensated for developing low margin, transparent products.

The following are links to some of the many posts on this blog about the Opacity Protection Team:

The Opacity Protection Team and the Volcker Rule
Thwarting true inquiry into the causes of the financial crisis

Financial disclosure complexity overwhelms investors
Dodd-Frank:  What reform looks like when written by the Opacity Protection Team

Fixing the financial system means overcoming Opacity Protection Team
David Paul:  the world of finance is indeed a rigged game

The Volcker Rule:  Insights into how Wall Street Protects Proprietary Trading and Opacity
Opacity and financial innovation