I think the majority of problems in finance stem not from poorly designed regulations or lax enforcement but rather from bad parenting. I have never been saved from doing the wrong thing because of a regulator or a regulation or a manager or a compliance officer or a lawyer. I have been saved by the imagined voice of my father saying, “I’m ashamed of you.” (And once he was gone, now I imagine my children saying the same thing.)
What my father said to me, which is the same as what I say to my children
In 1970 before sending me to college, my father said to me: Continue reading How to raise a child to be an ethical financier (or anything else for that matter)
the ethical financier 