Category Archives: Media

Wrecking an Economy Means Never Having to Say You’re Sorry


By Dean Starkman – The megabanks are finally feeling the hurt for the depredations of the mortgage era. That’s what the government, and some in the financial press, too, would have us believe.

There’s a much deeper problem here, however, and one that has received far less attention:

Not only has the Department of Jus­tice (DOJ) failed to build any criminal cases for financial-crisis misdeeds, but it’s also now settling with these banks without even filing civil complaints.

A complaint is the cornerstone of civil litigation, the foundation for even routine lawsuits.

One of its primary benefits—and of adversarial legal proceedings generally—is that a complaint can bring huge amounts of previously undisclosed information into the public record. more> http://tinyurl.com/paqp7yc

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From CEO ‘Takers’ To CEO ‘Makers’


By Steve Denning – The rotten foundations of shareholder value theory in the writings of Friedman and Jensen are now lost to the public view.

Business schools in particular have a responsibility to stop teaching shareholder value in their core curriculum to their students and start systematically teaching the better idea: the primary purpose of the corporation is to serve customers’ interests.

Business schools must recognize that it is not enough to teach Customer Capitalism as an optional subject. Textbooks that teach shareholder value theory as a basic assumption must be discarded. more> http://tinyurl.com/pe3bvbb

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Democracy Versus Republic, Take Two


By Jonathan Bernstein – In France and England, different branches of government, or different chambers of the legislature, represented different estates: the people, but also the aristocracy, or the crown, or the church.

But the U.S. government presented a real challenge: what, exactly, was being balanced?

In the U.S., there would be only the people.

In the brand new polity, all that was needed, perhaps, was the people’s branch; even with a more prominent role for the states, the fact that authority ultimately rested in the people made any other body seem superfluous.

Yet the Articles of Confederation, with only that branch, weren’t working properly. What to do? more> http://tinyurl.com/lj6tlrf

How California Could Power Itself Using Nothing but Renewables


[ SMARTER ENERGY ]

By John Upton – Under the plan, all new energy generation in the Golden State from 2020 onward would be from renewable sources.

By 2030, 80 to 85 percent of the state’s current energy supply would be replaced with clean sources.

And starting in 2050, the state wouldn’t need to burn another drip of oil, hunk of coal, or molecule of natural gas—and the Diablo Canyon nuclear power plant wouldn’t be needed. more> http://tinyurl.com/ml379zq

How CEOs Became Takers, Not Makers


By Steve Denning – The situation is one of fundamental institutional failure. CEOs are extracting value from their firms.

Business schools are teaching them how to do it.

Institutional shareholders are complicit in what the CEOs are doing.

Regulators do no more search for individual wrongdoers, usually those below the C-suite, while remaining blind to overall systemic failure.

In a great betrayal, the very leaders who should be fixing the system are complicit in malfeasance.

Unless our society reverses course, it is heading for a cataclysm. more> http://tinyurl.com/q4d75vk