It seems pretty clear that Duffie allows the Stanford trademark to mask his role as paid apologist: … Why should we take such work seriously—or any more seriously than other paid consulting work, for example, by a law firm or someone else working for the industry? … The answer presumably is that Stanford University is very prestigious. As an institution, it has done great things. And its faculty is one of the best in the world. When a professor writes a paper on behalf of an industry group, the industry benefits from—and is, in a sense, renting—the university’s name and reputation. Naturally, the banker at the CFTC roundtable stressed “Stanford” when he cited the paper.

Philip Mirowski, Never Let a Serious Crisis …, loc. 573