"Banks don't like to give up information. They make money when things are opaque," said Andrew Ang, professor of finance and economics at Columbia University. "They currently have an information advantage and that's very valuable to them. When you move to a system that is more transparent, they lose that advantage."
Can you trust your bank's interest rates?
Critics: No good alternative for current rate-setting process
Published On: Jul 11 2012 01:34:51 PM EDT
Updated On: Jul 12 2012 12:14:10 AM EDT
-
Copyright 2012 by CNN NewSource. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Comments
The views expressed are not those of this company or its affiliated companies. Please note by clicking on "Post" you acknowledge that you have read the Terms of Service and the comment you are posting is in compliance with such terms.