RSS Feed
Twitter
Facebook
Email
HomeFinancial Logic and Morality
Posted by Larry Doyle on March 22nd, 2009 12:26 PM |
I am a proud graduate of the College of the Holy Cross, a Jesuit institution in Worcester, MA. The strength of a Jesuit education lies in the principles of Logic and Morality. While I fully appreciated my classes in Economics, German, Philosophy, and others, my classes in Logic and Morality made the greatest impact on me. Those classes forced me to think, not make rash judgments, take positions, and defend them.
Fast forward to 2009 and a banking industry facing hundreds of billions, if not trillions, of unrealized losses. How do we most effectively, efficiently, and expeditiously address the health of this banking system so that our economy and population can regain its footing and prosper? Let me revert back to the late ’70s and early ’80s and the principles instilled in me by those Jesuits.
My Logic class utilized “decision trees.” My Morality class was based on the principle of ”the greatest good for the greatest number.”
What have we learned over the last 6 months, as well as the last 16 years, to help us chart our way forward? (more…)
Tags: AIG, Bank Nationalization, bank shareholder equity, banking losses, bankinig industry, class warfare, College of the Holy Cross, Democratic Congress, executive compensation, Fannie Mae, Freddie Mac, government interest rates, Logic, Moral Hazard, Morality, People's republic of China, populist outrage
Posted in American Consumers, Bank Nationalization, Banking Institutions, Barack Obama, Congress, Democratic Party, Economy, Equity Markets, Fannie Mae, Freddie Mac, General, Obama Administration, Wall Street | 11 Comments »
