I write here about markets because that is what I know. I try to expose the growing insanity that I see every day. But the problems apparent in the markets—greed, deception, the disregard for common sense and common decency—did not begin in the markets. Rather, the problems reflect a deep decay in personal morality, the basic standards that govern our lives and make us responsible human beings.
I am old enough to remember a different world, where your success depended on hard work, where a man’s word was his bond and you conducted your business for the advantage and benefit of all. That era is no more. What has been lost was brought home to me by the following tribute written by a friend of mine concerning his father. I invite you to read it and marvel at how much the world has changed.