Yes, we have it. No ads, no site. We don’t like the visual clutter any more than you do but treating this website like an enterprise rather than a hobby requires funding.

Some of you may be offended that we run advertising from large financial firms and other institutions that you may regard as dubious and often come under attack on this blog. Please be advised that the management of this site does not chose or negotiate those placements. We use an ad service and it rounds up advertisers who want to reach our educated and highly desirable readership.

We suggest you try recontextualizing. How successful do you think these corporate conversion efforts are likely to be? And in the meantime, they are supporting a cause you presumably endorse. Consider those ads to be an accidental form of institutional penance.

Comments Policy

We welcome comments and will accept any reasonable or constructive comment that contributes to debate and stimulates conversation, including strong criticisms. Please free to say what you want within reason.

Your Privacy

Email addresses are required for commenting, but they are neither published on the blog, nor shared, nor sold. They may be used by Naked Capitalism to contact the commenter privately. They may also be used for our annual fundraiser; mail from the fund-raiser will have an opt-out option.

Our Goal is Conversation

The comments section is a conversation hosted in Naked Capitalism’s space. That means that commenting is a privilege, not a right.

You are invited into our space because your comments are often at least as informative as our posts, and they can be funny too. You keep us on our toes and graciously correct our all-too-frequent typos and broken links.However, in order to keep the conversation civil and informative, we have found that we have to establish and enforce guidelines. The site’s administrators spend a considerable amount of time in the review and maintenance of the comments section.

Readers who run afoul of our standards are subject to the loss of comment privileges. The overarching requirement is that you comment in good faith to advance your understanding and that of other readers.

Typical violations:

1) Broken record: Repeating the same point over and over again, especially when it’s long been refuted.

2) Not reading the post: Evidently reacting only to the headline of a post, or not reading through to the end.

3) Bad faith: Deploying any of a long list of rhetorical tricks that are all about winning, as opposed to conversing. As former debaters, Yves and Lambert know these tricks well. Don’t use them.

4) Insulting your hosts: The conversation takes place in Naked Capitalism’s space. So don’t throw your drink in your host’s face, whether Yves, Lambert, or any poster.

5) Rude and offensive language: Naked Capitalism is read by a wide audience, and if your comment includes offensive or inappropriate language, it may be deleted. For example, please avoid “bad language” that’s more than mildly vigorous — no body parts, please! — and avoid racist ranting.

Other violations include but are not limited to ad hominem attacks, hogging bandwidth, sock-puppeting yourself, link-whoring, jailbreaking, complaining about moderation policy, and a high invective-to-content ratio.

Filtering and Moderation


Naked Capitalism comments are filtered for spam using Akismet. We have no control over Akismet, and sometimes it acts like Skynet.

Akismet operates algorithmically. If you act like a spammer, Akismet will classify you as a spammer and throw and keep throwing your comments into the spam bucket, which is so overwhelmingly full of genuine spam that we won’t have time to fish them out.

Therefore, don’t train Akismet to think you are a spammer! Don’t post duplicate (or very similar) comments, because that’s what spammers do. And don’t post with more than three links.


Naked Capitalism operates a complex system of automatic tripwires to protect the blog from abuse.

If your comment triggers a tripwire, it will be routed to our moderation team and not posted for public view until it has been checked. This may take up to 24 hours, depending on workload.

“Why hasn’t my comment appeared?”

Most comments appear immediately, but because we have implemented caching to improve site performance, your comment may take as long as two minutes to appear. So wait, and refresh your page. Otherwise:

1) “We don’t know.” Akismet moves in mysterious ways.

2) “We don’t know.” WordPress has an intermittent bug that causes some comments to vanish into the ether, including even those of site administrators.

3) “Your comment triggered a moderation tripwire.” See “Moderation” above.

Unfortunately, even commenters in good standing hit those tripwires. Your best course of action is to do nothing and wait until our team can clear the moderation queues, at which point your comment should appear.

4) “You have been banned.” See “Banning” below.

WARNING: The Internet is a hostile computing environment. Always copy your comment before pressing the Submit button. That way, if your comment does not appear for some reason, , you will not have lost it.


Anyone who violates this comments policy may be banned from commenting on Naked Capitalism. Banning may be temporary or permanent.

Temporary banning: We may ban a commenter temporarily, and find on review of their subsequent comments that the violation was an outlier. We will then restore their commenting privileges. WARNING: We invest a lot of time thinking through these decisions, far more than you might imagine. The quickest way to convert your temporary ban into a permanent one is to complain about moderation policy.

Permanent banning: Once a commenter is permanently banned, their comments are never reviewed, and they can never comment at NC again.

Our decisions with respect to individual comments and the status of a commentor are final.

Sanity Clause

Naked Capitalism reserves the right to edit, delete, move, or mark as spam any and all comments. Naked Capitalism has the right to bar any individual or group of people from commenting. Naked Capitalism has the right to turn off commenting for any or all posts.

Commenting on Naked Capitalism is deemed acceptance of these policies.