It might be hard to believe, but transparency is increasingly becoming the norm in the financial industry. Even sectors such as private equity and hedge funds, where secrecy has been the norm for decades, are starting to open up their books for investors. In other sectors of the financial industry, the move towards transparency is bringing light to dark corners of sectors such as junk bonds where tight control of information has long been the policy. Apparently the Association for Financial Markets in Europe distributed a list of the most secretive private firms to bond arrangers to try and create...