Thanks for visiting. Below, you will find corrections and clarifications to certain passages, claims, or arguments made in my book, Wall Street, Reforming the Unreformable - An Ethical Perspective, as well as responses to critics and book reviewers.
Other than assorted copy-editing misses, alas, there are these:
Proposal 1, in Chapter 6, refers to Supreme Court Justice "Jean-Paul Stevens." Of course, this should be "John Paul Stevens." Fortunately, this Parisian twist appears only in one place; everywhere else the reference to the Justice is as it should be.
Proposal 12, in Chapter 6, has a bit of a muddled example regarding Jones, where the names are interposed. The example should read as follows:
"Consider an example from outside of the industry. Suppose Jones is engaged to paint your house. You assume that Jones has everything he needs to do the job. Of course, the job calls for buying the actual paint, and you know that part of what you, as Jones’s customer, are paying includes the cost of paint, in addition to Jones’s labor and expertise. But suppose that Jones by-passes the local paint supplier and goes to a special high-end, out-of-town supplier. When the job is complete, you ask Jones for a breakdown of the bill, which he supplies. The itemized bill shows that the paint costs were twenty percent more than you expected them to be. Jones argues, ‘Well, that’s because I have an arrangement with an out-of-town supplier. When I buy paints there I get a special discount on brushes, pails and such that I will use in my general business, some of which were used on your house.’ The homeowner replies, ‘Well that may be, but the paint you are using is the same paint sold at the local paint supply store, and that paint is twenty percent cheaper, and would have covered my house the same. It seems to me that if you need brushes, pails and such to run your business, well that’s just the cost of being a house painter, is it not? Why don’t you buy your own trade materials, and let me see your bid on the fee for service, without this hidden component built in?’ "