{"id":4851,"date":"2012-07-13T18:55:11","date_gmt":"2012-07-13T22:55:11","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=4851"},"modified":"2012-07-13T18:55:11","modified_gmt":"2012-07-13T22:55:11","slug":"why-our-elites-stink-nytimes-com","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2012\/07\/13\/why-our-elites-stink-nytimes-com\/","title":{"rendered":"Why Our Elites Stink – NYTimes.com"},"content":{"rendered":"

David Brooks<\/strong>: Today\u2019s elite is more talented and open but lacks a self-conscious leadership code. The language of meritocracy (how to succeed) has eclipsed the language of morality (how to be virtuous). Wall Street firms, for example, now hire on the basis of youth and brains, not experience and character. Most of their problems can be traced to this.<\/p>\n

If you read the e-mails from the Libor scandal you get the same sensation you get from reading the e-mails in so many recent scandals: these people are brats; they have no sense that they are guardians for an institution the world depends on; they have no consciousness of their larger social role…..<\/p>\n

via Why Our Elites Stink – NYTimes.com<\/a>.<\/p>\n

Comment:~ The first thing we need to teach college students is ethics.<\/p>\n","protected":false},"excerpt":{"rendered":"

David Brooks: Today\u2019s elite is more talented and open but lacks a self-conscious leadership code. The language of meritocracy (how to succeed) has eclipsed the language of morality (how to be virtuous). Wall Street firms, for example, now hire on the basis of youth and brains, not experience and character. Most of their problems can … <\/p>\n

Continue reading “Why Our Elites Stink – NYTimes.com”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[29],"tags":[2283,2368],"class_list":["post-4851","post","type-post","status-publish","format-standard","hentry","category-the-big-picture","tag-meritocracy","tag-morality"],"yoast_head":"\nWhy Our Elites Stink - NYTimes.com - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why Our Elites Stink - NYTimes.com - the patient investor\" \/>\n<meta property=\"og:description\" content=\"David Brooks: Today\u2019s elite is more talented and open but lacks a self-conscious leadership code. The language of meritocracy (how to succeed) has eclipsed the language of morality (how to be virtuous). Wall Street firms, for example, now hire on the basis of youth and brains, not experience and character. 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Without clients you will not make money. In fact, you will not exist. Weed out the morally bankrupt people, no matter how much money they\u2026","rel":"","context":"In "Other"","block_context":{"text":"Other","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/other\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":13968,"url":"https:\/\/thepatientinvestor.com\/index.php\/2016\/08\/14\/how-global-elites-forsake-their-countrymen-wsj\/","url_meta":{"origin":4851,"position":1},"title":"How Global Elites Forsake Their Countrymen | WSJ","author":"ColinTwiggs","date":"August 14, 2016","format":false,"excerpt":"Great column by Peggy Noonan in the Wall Street Journal on the growing detachment between political and cultural elites and the problems facing ordinary citizens on the lower rungs of society. There is plenty of evidence of out-of-touch elites, including Brexit and Angela Merkel's unilateral decision to allow 800,000 migrants\u2026","rel":"","context":"In "The Big Picture"","block_context":{"text":"The Big Picture","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/the-big-picture\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6357,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/12\/04\/high-speed-traders-profit-at-expense-of-ordinary-investors-a-study-says-nytimes-com\/","url_meta":{"origin":4851,"position":2},"title":"High-Speed Traders Profit at Expense of Ordinary Investors, a Study Says | NYTimes.com","author":"Colin Twiggs","date":"December 4, 2012","format":false,"excerpt":"NATHANIEL POPPER and CHRISTOPHER LEONARD write: The chief economist at the Commodity Futures Trading Commission, Andrei Kirilenko, reports in a coming study that high-frequency traders make an average profit of as much as $5.05 each time they go up against small traders buying and selling one of the most widely\u2026","rel":"","context":"In "Stock Markets"","block_context":{"text":"Stock Markets","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/stock-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5392,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/09\/05\/simon-johnson-why-are-the-big-banks-suddenly-afraid-nytimes-com\/","url_meta":{"origin":4851,"position":3},"title":"Simon Johnson: Why Are the Big Banks Suddenly Afraid? – NYTimes.com","author":"Colin Twiggs","date":"September 5, 2012","format":false,"excerpt":"The threat of too-big-to-fail banks has not diminished. The combined assets of the 6 largest US banks is bigger now than in 2008. Simon Johnson, Professor of Entrepreneurship at M.I.T. Sloan School of Management, writes: A growing number of serious-minded politicians are starting to support the point made by Jon\u2026","rel":"","context":"In "Banks & Interest Rates"","block_context":{"text":"Banks & Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1225,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/10\/09\/mutual-funds-dragged-down-by-global-economic-unease-nytimes-com\/","url_meta":{"origin":4851,"position":4},"title":"Mutual Funds Dragged Down by Global Economic Unease – NYTimes.com","author":"ColinTwiggs","date":"October 9, 2011","format":false,"excerpt":"In the short term, though, fund investors have lost a lot. The average domestic stock fund in Morningstar\u2019s database fell 16.2 percent in the third quarter. ....International stock funds, down 18.3 percent, fared worse than domestic ones and were dragged down by a 23.7 percent decline in Europe portfolios. via\u2026","rel":"","context":"In "Stock Markets"","block_context":{"text":"Stock Markets","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/stock-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2293,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/11\/23\/fate-of-euro-may-hinge-on-italian-savers-nytimes-com\/","url_meta":{"origin":4851,"position":5},"title":"Fate of Euro May Hinge on Italian Savers – NYTimes.com","author":"ColinTwiggs","date":"November 23, 2011","format":false,"excerpt":"Compared with debt-saddled Greece, Spain and Ireland, Italy is much less reliant on foreign investors to finance its debt. And more so than in any other euro zone country, Italian citizens have been active buyers of government debt, with such bond holdings representing 10 percent of household assets. So far,\u2026","rel":"","context":"In "UK & Europe"","block_context":{"text":"UK & Europe","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/uk-europe-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/4851","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=4851"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/4851\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=4851"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=4851"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=4851"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}