Naked Capitalism – An Irreplaceable Resource

By Anchard Scott, an economist and member of Occupy the SEC

Anyone reading this already knows what an invaluable site this is, so I what I’d like to offer is my own perspective as a long-time reader whose work has been heavily influenced by Yves and her work at Naked Capitalism.

Although I was already a devoted reader of Naked Capitalism, I first came into contact with Yves when she was starting work on her book and on the lookout for research assistance. I was in the process of transitioning out of my consulting role in the investment industry and offered to lend a hand. I later came into contact with Yves again when I joined Occupy the SEC (OSEC) after reading about the group’s work on the site.

Longtime readers of NC can probably recall several occasions when Yves provided a platform for OSEC to publicize its work. What probably isn’t apparent is the extent to which many of OSEC’s comment letters (to take only two examples, see here and here) drew on Yves’ coverage of issues such as repo that were first surfaced and explored in depth on Naked Capitalism. It’s a testament to the rigor of Yves’ approach to analysis that NC functions as both a blog and an unofficial repository of linked original documents ranging from regulatory filings to research papers and beyond.

Equally important, Yves and her colleagues have often been the first to dive into the administrative details of the financial system, which is where the power dynamics and feedback loops of the financial crisis often have their greatest effect. To take only one example, Yves’ tireless coverage of MERS was critical in bringing the underlying mechanisms of the foreclosure crisis into the public conversation, and remains one of my primary resources in my ongoing academic research now that I’ve transitioned into academia.

The last point I want to address is the operations of the site itself. I’ve run a small consulting company and I know first-hand what it takes to create a lasting organization on minimal resources. I also know that what Yves has done with Naked Capitalism – building a stable of fantastic contributors, constant upgrades to technology, etc. – has all the hallmarks of deep personal investment in building something that goes beyond the founder’s ego. It has been profoundly impressive to watch.

So from one longtime reader to the rest of you, I hope you’ll join me in supporting this invaluable site via the Tip Jar, which allows you to donate via credit card, debit card, or PayPal account, and also gives instructions for how to send a check. If you give by check, please also send Yves a note at yves-at-nakedcapitalism.com with the subject line “Check is in the mail” and the dollar amount in the body so she can include your contribution in the running tally.

If you can give a little, give a little. If you can give more, give more. If you can give a lot, give a lot. You are investing in making a difference.

Hats off to Yves and her team. Here’s to many more years of deep analysis and insights.