Let’s Do Real Banking Reform!


Richard W. Fisher spoke to the Southwest School of Banking on June 3rd. His speech was called “Financial Reform or Financial Dementia?” He tells us what reforms are likely to be effective, what reforms are are likely to be ineffective and how to get the best outcome. Is anybody going to pay any attention?

Fisher discusses the financial crisis in 2008 –

Ethics Roundup – Sunday – June 6th, 2010


Could British Petroleum cease to exist? Check out this article from Minyanville.

Chris MacDonald in his June 5th blog entry discusses the play between rapidly developing technological complexity and regulatory science. MacDonald quotes from Kenneth Rogoff’s article, The BP Oil Spill’s Lessons for Regulators.

Chris MacDonald in a totally successful effort to keep my off balance has a new post on June 6th. Entitled Galarraga’s Corvette, MacDonald while admitting that everyone is entitled to an opinion points out that even though tax payer dollars are involved in the company’s continued operation that doesn’t mean every corporate action should be second guessed. He says managers are there to manage. I doubt that Chris MacDonald will be very surprised (or bothered) that I don’t always agree with him but he’s dead on this time. Nit picking day to day decisions is a waste of everybody’s time and the giveaway was a shrewd PR move. jp

Dani Rodrik writing in Project Syndicate, A World of Ideas, argues that the nation-state, globalization and democracy are all incompatible with each other and that at the most we can only have two of the three. It’s a thought provoking argument.

Gael O’Brien writing on her blog, The Week in Ethics, discusses the message of John Wooden. During his lifetime, Wooden created a “pyramid of success” comprised of fifteen elements. (The diagram is included in the article.)

Edward Lotterman writing in Twin Cities dot com discusses how salaries in different currencies vary, can be compared effectively and when they can’t be compared effectively. It’s a pretty piece of writing.

Jeffrey Seglin writing in his blog, The Right Thing, tells us that Panera Bread is opening a store where you pay what you believe is appropriate for their baked goods. The new store is opening in Clayton, Missouri. Seglin is interested in your opinion. I’d go to his site and let him know. (There was only one comment when I left.)

Rod Dreher writes that the BP spill is a rolling apocalypse.

Michael Hiltzik writing on the Los Angeles Times business page discusses online privacy. He is a champion of preserving the rights of the individual and when he talks people should listen. This is an issue of considerable importance to me.

Marian Wang writing in ProPublica reports that illnesses reported by the clean up workers on the gulf coast are caused by the oil and not by the host of other possibilities the oil company or the government will cook up.

Elizabeth Warren prophecies the coming collapse of the middle class.

Diminished Expectations.


We live in a country where the expectation that over time we will improve our economic status may be a thing of the past. The AP has a story on our current “recovery.” It’s pretty sad, but it has been an unfortunate situation for years now, getting worse year by year for the last thirty years. ALLEN G. BREED and RICH MATTHEWS wrote the story and their insights are impressive.

Julia Baird


Julia Baird is a senior editor for Science, Society and Ideas at Newsweek. I am adding her to my list of columns to check regularly. Her piece this week is nothing short of inspiring. The idea of the internet as a human right is one I find compelling. I have written before on the need for similar privacy expectations for e-mail as we have for snail mail. I believe some day our e-mails will become more our property than they are now.