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Corruption

Niall Ferguson and the Rage Against the Thought-Leader Machine

August 25th, 2012  |  Source: HBR Blogs

Harvard historian Niall Ferguson ran into an online buzzsaw this week. He says the "liberal blogosphere" was out to do him in, and that was part of it. But there's something bigger at work: a groundswell of resentment for and frustration with the "thought leaders" who craft our conventional wisdom, get paid big speaking fees for it, yet often behave in ways that don't accord with this status. First Jonah Lehrer, then Fareed Zakaria, now this — and surely there will be more such brouhahas to come.


Bungled Bank Bailout Leaves Behind Righteous Anger

In the year since I stepped down as the special inspector general of the Troubled Asset Relief Program, the sadly predictable consequences of the government’s disparate treatment of Wall Street and Main Street have only become worse. As the banks amass size and power, Main Street continues to get pummeled.


Do Business Schools Incubate Criminals?

July 17th, 2012  |  Source: Bloomberg

The recent scandals at Barclays Plc, JPMorgan Chase & Co., Goldman Sachs Group Inc. and other banks might give the impression that the financial sector has some serious morality problems. Unfortunately, it’s worse than that: We are dealing with a drop in ethical standards throughout the business world, and our graduate schools are partly to blame.


Not for sale: What Money Can’t Buy

July 4th, 2012  |  Source: FT.com

Our romance with capitalism is a Faustian bargain, but two critiq:ues warn that giving free rein to markets comes at the cost of giving up a part of our soul

Martin Sandbu reviews:

What Money Can’t Buy: The Moral Limits of Markets, by Michael Sandel, Allen Lane /Farrar, Straus and Giroux

How Much is Enough? The Love of Money, and the Case for the Good Life, by Robert and Edward Skidelsky, Allen Lane

Opening paragraph:

Categories:  

The Pennsylvania Ghost Town That's Been Burning For 50 Years

May 27th, 2012  |  Source: Businessinsider.com

It's not completely clear how the fire started, but most historical accounts hold that burning trash in a landfill near an abandoned strip mine ignited an exposed coal vein. The fire spread throughout a labyrinth of coal mines beneath the town, creating a giant underground inferno. 

That was 50 years ago today. 

Half a century later, Centralia, Pennsylvania still burns.  


How aid got smarter

May 26th, 2012  |  Source: FT.com

 

Academics, donors and some aid agencies have begun measuring what works. Development is becoming a science

I knew I was going to love this job here,” says Anthony Lake, Unicef’s executive director, pointing at his heart beneath his suit jacket. “But,” he points to his head, “it is fascinating here too. There are no boring bits.”


Exile on Wall Street: One Analyst's Fight to Save the Big Banks from Themselves

May 22nd, 2012  |  Source: CasePlace.org

An insider points out the holes that still exist on Wall Street and in the banking system. Exile on Wall Street is a gripping read for anyone with an interest in business and finance, U.S. capitalism, the future of banking, and the root causes of the financial meltdown. 


JPMorgan’s $28 Billion Leads Bank Trading Losses in Tests

March 13th, 2012  |  Source: Bloomberg

JPMorgan Chase & Co., which generated the most trading revenue among Wall Street firms last year, had the highest trading and counterparty losses of the biggest U.S. banks under the Federal Reserve’s stress scenario.

JPMorgan had an estimated $27.7 billion in projected losses from mark-to-market changes, credit valuation adjustments and counterparty default losses, according to the Fed results released today. Goldman Sachs Group Inc. (GS) had an estimated $27.1 billion of such losses in the testing.


Thanks Mitt! Why private equity is under fire

March 7th, 2012  |  Source: FT.com

The tax status of buyout executives is under scrutiny as politicians look beyond bankers




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