Why the title?

I came to the world of financial services very naively. Prior to getting my PhD, I was a singer and had no serious experience with the corporate world (though one learns a lot of a particular sort of thing as evening receptionist for Skadden Arps). I stumbled into a project on auditors post-Enron and did not expect to have earth shattering insights into the problems of the world.

I don't think I ever did, either. I just didn't have enough credibility to worry about defending it, and therefore didn't worry too much if I was asking stupid questions. And it seemed to me, when I went to a dog and pony show that the Big 4 put on for us, that there were a lot of naked emperors walking around. And when I asked, people didn't come up with some terribly impressive or brilliant explanation for why the emporer was naked. Instead, they said, "hush, dear. Don't say anything about that. It just shows you don't understand."

And when I didn't stop asking, they started lying to me in silly ways or calling me names (arrogant, naive, silly). I have a stubborn streak (I am a stubborn streak) and so here I am, 5 years or so into asking silly arrogant and naive questions about the financial world. And I am starting to think I am right. The emperor is naked, and that big old closet of his is empty.

I would love to be proven wrong. I would love to learn that the adults are adults and serious and sensible. But I am not so optimistic anymore.