The NYT contrasted a "populist" demand for transparency on bank finances and what they do with government money with regulators' concerns as a "clash of values." It describes the regulators as being "primarily concerned with preserving the overall stability and liquidity of the financial system."
While regulators are no doubt concerned about the stability of the banking system, it is also possible that they are concerned about protecting the interests of bank shareholders and top executives. There are solutions that would protect the stability and the liquidity of the banking system that would displace most of the top management of insolvent banks. The regulators insistence on secrecy obstruct this path.
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