ETFs would benefit from going before the board

It’s all good fun of course and generally a force for the good, forcing the index tracking industry to defend some of its more questionable practices and hopefully think about making itself even more transparent. Yet that higher level of transparency won’t come cheap – how much will this general buffing up cost the end investor (who probably doesn't give a damn about the exact nature of the stock lending policy anyway)? Nevertheless, I think there is one word that needs constant repeating in this debate and it’s a word that has lost a great deal of its meaning in many other sectors of...