Monday, October 5, 2009

On behalf of

There is a notion that one has duties. Some of this is legal; a lot of it is cultural. And, then there are the 'big T' issues to consider, to boot (but, not yet).

How many finance people think that their duty is to 'make money' no matter the ways and means? Oh yes, how was this drummed into their best-and-brightest brains?

We're a year after a mess, are some folks any smarter? As we go along, there'll be hindsight and analysis. Some are more stringent than others in calling for reform.

Trouble is, these aren't easy issues. U-issues abound. We have half-baked quants muddying up the waters.

Note: Consider that those who work with other people's money ought to do it under some type of vow. Let's see the possible list. Fiduciary duty. No side-dealings. (Ah, perhaps, eventually, we could have an impressive enumeration - adding things like, vow of poverty - that is, no remuneration other than some nominal value).


11/01/2010 -- Well, we're still sloughing along. The elections are tomorrow. However, looking at how we got here will continue to be of interest: Adam knew that 'free' had its problems.

Modified: 11/01/2010

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