Category Archives: Classic Quotes

Ralph Waldo Emerson on those who tout their ethics. Remember, Lloyd Blankfein has reminded us about Goldman’s role in society, “We are doing God’s work here.” The Barometer wonders if God is aware of his agent’s claimed apparent authority.

Bobby Bragan, Atlanta Braves manager on the stats theory behind Moneyball. It’s a great deal like the reasoning of white-collar criminals — “I am doing the right thing all but 5% of the time.” The problem is that the 5% … Continue reading →

Alan Johnson, owner of Johnson Associates, a financial compensation specialty firm with clients such as Credit Suisse and the late Lehman Brothers. No, one’s beliefs have no place as a guiding star.

Procurement officer for Maricopa County, AZ; one of 11 county employees to take trips, gifts, and tickets from vendors. Ah, yes, the REO Speedwagon theory on conflicts losing their punch with each pass from one human to another: “Heard it … Continue reading →

Ohio State athletics director, Gene Smith, on NCAA sanctions of the a post-season ban and scholarship cuts for former coach Jim Tressel’s cover-up of his players’ memorabilia-trades-for-tattoos program in violation of NCAA rules.

Penn State University head football coach, Joe Paterno. Yes, but did you do what you should have done? There it is, that, “I complied with the law” cover. In a situation in which the lives of young people are at … Continue reading →

Raj Rajaratnam,former CEO of the Galleon hedge fund who was convicted of insider trading and sentenced to 11 years in federal prison, telling a Galleon employee on October 24, 2008 about a phone call he had from Rajat Gupta, then … Continue reading →

From Joann S. Lublin, “Kozlowski Talks Jail, Pay,” Wall Street Journal, October 21, 2011, p. B1. Funny, that thought from a jailhouse interview with the former Tyco CEO, who is doing 8.3-25 years in New York state prison, contrasts sharply … Continue reading →

A statement from the family of Mr. Kweku Adoboli, former UBS trader, who is under arrest for allegedly attempting to hide $2.3 billion in losses from his trading activities on the bank’s Delta One ETF desk. The slightly different phrasing … Continue reading →

An elegant phrasing of the classic rationalizations: “I’m not as bad as _____.” and “Everybody does that.” and “If you think this is bad,you should have seen _________.” Our ethical standards do not improve just because we are not doing … Continue reading →

The Wall Street Journal, September 16, 2011, describing how Solyndra, the government-backed solar panel company, went south. The company, now in bankruptcy, didn’t seem to have anyone within the company or on its board who understood the concepts that business … Continue reading →

Convicted insider trading felon and former Galleon hedge fund owner, Raj Rajaratnam, in an interview with a probation officer who is writing his presentencing report. How about drawing a line when a board member calls with info on what just … Continue reading →

What firm would that be? Why, Goldman Sachs, of course! It all depends on the meaning of the term “give back.” ‘Tis lovely to give back philanthropically. However, some of us who were investors, customers, and taxpayers would just like … Continue reading →

Rhode Island U.S. Attorney Peter Neronha, who led the probe that led to Google paying a $500 million fine and admitting that it had accepted advertising revenues from Canadian pharmacy websites illegally selling prescription drugs in the United States. Mr. … Continue reading →