The guy burned down the house and he is now telling the financial world how to extinct his arson, which is somehow funny from such a morally-bankrupt mind. But hey, the man is not convicted — yet.
Anyhow, here is Stephen Green, ex-chairman of HSBC, on trust, morality and markets :
If we are to restore trust and confidence in the markets, we must therefore address what is at its root a moral question. Trust and confidence cannot be restored overnight, and they cannot be restored by fiat: the process of renewal has to begin with a recognition of the moral dimension of what has happened. It is as if we have grown increasingly to accept the idea that the value of what we do is fully delineated by the market, by regulatory compliance and the law of contract. If the market will bear it, if the law allows it, if there is a contract, then no other test of rightness need apply. Yet we would not (or should not, at least) live our private lives this way. So why should it be acceptable in business…?
Abnormal Capitalist 