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.