Report from the Committee for Economic Development

The Committee for Economic Development (CED), which created the Marshall Plan for reconstruction of Europe after WWII, has taken on the challenge of reconstructing corporate boardroom practices to promote sustainable business practices.  The CED concludes that "corporate boards and the leaders they select must integrate relevant societal concerns, such as environmental and human rights considerations, into corporate strategy to strengthen long-term competitiveness and the sustainability of both the corporation and the society in which it exists."

Mr. Geithner's written testimony

US Treasury Secretary, Timothy Geithner, outlined the Obama Administration's plans for regulatory reform in testimony to the House Financial Services Committee.  Will reform efforts go further, to address financial services industry conflicts of interest, governance problems and change the legal, tax and accounting standards that encourage short-term thinking, while allowing companies to offload long-term costs to society but privatize short-term gains?

Learning from this crisis

If this crisis turns out to be the catalyst that causes financial sector players to learn and transform ahead of the next "predictable surprise" (eg climate change) it may just prove itself - in time - to have been "worthwhile".  And two letters published this week show there is some hope that this could be the eventual outcome.

Sell-Side Research: 3 Modest Reform Proposals

The following is a publication on the reasons why sell-side research has failed to deliver on its analytical promise and the measures needed to release that potential prepared by Michael R. Mainelli, Jamie Stevenson and Raj Thamotheram members of NSFM.