Following the events of this summer, it may take awhile to achieve an appropriate pricing of risk, because it will take time to unravel some of the complex, opaque structured products to get to the underlying assets, and then find values for the assets themselves. Over time, market forces can be expected to work this out. But, to operate efficiently, markets need information.
So, it is in the interest of market participants to make sure that parties have access to all the necessary information. Once again, Charles Dallara put it well in his letter to the IMFC. He wrote: "disclosure practices need to be improved so as to allow investors and other market participants to properly assess and price risk, thus effectively exercising market discipline."