Subscribe: RSS Feed | Twitter | Facebook | Email
Home | Contact Us

The Integrity of the Game

Posted by Larry Doyle on March 22, 2012 5:31 AM |

The penalties handed out by NFL Commissioner Roger Goodell to the coaches and executives of the New Orleans Saints organization for the bounty program practiced down on the bayou were perhaps the stiffest in the history of the game.

Goodell has shown himself to be a no-nonsense individual cut from the mold of Kenesaw Mountain Landis. Goodell is clearly focused on protecting the sport, and knows that any program which promotes an intent to injure renders modern day football to little more than barbarism.

What does Goodell appreciate and what did Landis embody? In layman’s terms, both the current NFL commissioner and the long since deceased baseball judge knew that, above all else, they needed to maintain the integrity of the game.

If only those on Wall Street and in Washington overseeing our financial markets had the same principles.

What would Goodell and Landis think about some of the practices and penalties we have witnessed on Wall Street over the last few years? Token fines. Neither admitting nor denying guilt. The targeting of individuals (Raj Rajaratnam and the like) while conveniently overlooking the executives within the institutions involved in obvious organized activities.

I do not pretend to think that Goodell or Landis are total paragons of virtue. Certainly, modern day football and baseball over the years have had more than their fair share of problems.

That said, I commend Goodell and Landis for knowing and upholding the public trust in the integrity of the game.

Mary Schapiro, Preet Bharara, Richard Ketchum, Jamie Dimon, Lloyd Blankfein, Robert Khuzami, Spencer Bachus, Chuck Schumer, James Gorman, Jon Corzine, Albert Loewenthal, Brian Moynihan, Darrel Issa, Jim Himes, Richard Blumenthal, Eric Holder, Timothy Geithner, Ben Bernanke, President Barack Obama et al . . . are you listening?

To those reading this commentary: Whom do you believe deserves to be penalized by our financial commissioners? If you were financial commissioner, what type of penalties would you deliver?

Isn’t it time to  subscribe to all my work via e-mailRSS feed, on Twitter or Facebook?

Do your friends, family, and colleagues a favor and get them to do the same. Thanks!!

I have no affiliation or business interest with any entity referenced in this commentary. The opinions expressed are my own. I am a proponent of real transparency within our markets, our economy, and our political realm so that meaningful investor confidence and investor protection can be achieved.

Larry Doyle 

  • Peter Sivere

    Larry – May be too early in the game but what are your initial thoughts on the Corzine news? Completely agree with your commentary re: Integrity.

  • coe

    I’ve been thinking a lot about the state of “play” in our financial markets lately – where we have come from and why we are here, and of course, where we might be going. I have come to believe that part of the problem is that our cultural approach to this business is exactly what you speak to – i.e. it is a “game” – and in games, there are winners and losers…the industry recruits the best “athletes”, and in the modern field of athletics, “winning” is everything…the papers are filled with stories of cheating, cutting corners, poor sportsmanship, recruiting violations, reneging on contracts, doing anything and everything to win…the sports pages have spilled into the op ed pages – athletes are hobnobbing with politicians who in turn suck up to the “winning” Holywood celebrities…it is a national travesty and a symptom of a value system gone horribly wrong…and I happen to believe it does not bode well for the country…let’s face it, LD, the “game” is rigged – regulatory capture, government settlements, Fed easing, ARS scandal, Corzine misdeeds, yada, yada, yada – all masking a simple truth…the bankers took the blessing of a subsidized and insured deposit system as a source of funding and they rolled and continue to roll the dice at the taxpayers expense and at the expense of future generations – this with virtual impunity…the politicians do the same thing…should there be Goodell-esque penalties meted out – you bet…is everyone guilty – of course not – there are plenty of hard working and ethical people in the industry…but where has accountability gone – what’re we doing here?






Recent Posts


ECONOMIC ALL-STARS


Archives