Moral Cents: The Journal of Ethics in Finance (Summer/Fall 2014)

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October 30th, 2014

      Financial regulations have proliferated since the Global Financial Crisis. Some, having lost their faith in self-regulation, welcome the new rules. Others, clinging to the belief that a free market ensures financial actors will self-regulate, deplore the promulgation of clumsy and poorly designed regulations. Both sides are right. Regulations are necessary in an ethically unconstrained world but they are sometimes badly thought out, arise too hastily, and have negative unintended consequences. ...

Moral Cents: The Journal of Ethics in Finance (Winter/Spring 2014)

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April 30th, 2014

How should we view financial instruments? Saviors or socially useless? There are equities (shares) and bonds. These instruments have been around for years and are well understood. Then there are derivatives. The major types are options, swaps, futures, and forwards. These instruments are traded daily, in large volume, and they too are more or less well understood. We do not question their existence because these financial instruments serve a purpose. ...

Moral Cents: The Journal of Ethics in Finance (Summer/Fall 2013)

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October 29th, 2013

The topics covered in this, the fourth issue of Moral Cents, are diverse though the subject matter of every article falls within the scope of finance and ethics. The diversity is an indication that the ethical dimension is everywhere in finance. Ignoring the existence of this dimension does not serve us well as the recent past demonstrates. Banks such as JPMorgan and Deutsche Bank are still paying enormous, profit shattering, ...

Moral Cents: The Journal of Ethics in Finance (Winter/Spring 2013)

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April 23rd, 2013

We are close to the five-year anniversary of the global financial crisis, if we take Lehman’s bankruptcy as the unfortunate beginning. Trillions of dollars were lost at the low point of world financial collapse. Subsequently, trillions of words (I add 625 more today) seem to have been written on this, the first global financial catastrophe of the twenty first century. What happened, why did it happen, who caused it to ...

Moral Cents: The Journal of Ethics in Finance (Summer/Fall 2012)

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October 12th, 2012

The reader will discern a couple of themes in an entertaining mixture of articles in this issue of Moral Cents. They are, corporate social responsibility (CSR) and real estate markets. The CSR term is brandished too glibly and is at risk of losing its significance. Nevertheless, the CSR movement is growing as more corporations in the U.S. and abroad sign up to the philosophy of doing good while doing well. ...

Moral Cents: The Journal of Ethics in Finance (Winter 2012)

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January 19th, 2012

This inaugural issue of Moral Cents features an eclectic selection of articles on financial ethics. The Editorial challenges readers to join the Institute’s quest. YRK Reddy gives a number of examples of ethical failures in finance and asks whether the financial sector needs an ethics reboot. Hannah Sandal suggests we consider a Rawlsian approach to bringing ethics back into financial practice. Lindsey and Noonan give a legal and ethical analysis ...