First up is this story is from yesterday's HuffingtonPost. I hope a lot more judges get on Rakoff's bandwagon. Corporations should be held accountable for corporate misdeeds and I am not so sure that the shareholders are being victimized twice as Judge Rakoff has been quoted. After all, there seems to be a corrupt environment in the major banks and that takes the complicity of the shareholders, the executives and the boards of directors. But, to date, only the collective entities--the companies--have been held accountable. I hope the next round in this mess does bring some accounting for the top executives. Personal responsibility is a wonderful deterrentbut it has to pervade the system from top to bottom. But then that would mean we have to have some set of ethics to which people are expected to conform. Today, the Ten Commandments should be renamed the Ten Tentative Suggestions.
Elanor Starmer at the San Francisco Chroicle has an interesting piece in light of the egg recall. I have thought about the potential problems of industry consolidation for some time. It comes down to a numbers. If something goes wrong with a company that controls a significant part of the market, large numbers of people can get very sick or die. And I definitely want a choice. I want to know what is in the food I get and where it comes from.