Word: moralisms
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Perhaps we have. And if so, when the story is told, the moral might be that white and black begin to fade when the color that matters is green - the green of money we can no longer count...
...article to appear in a book from Oxford University Press, Aaron Levine, chair of the economics department at a respected New York college opens with the assertion: "The current downturn is the first post World War II recession that has its roots in widespread moral failure." It's an interesting, if debatable contention, but equally interesting is the authorities Levine cites as he makes his argument: the Jewish torah, the mishna (transcribed oral law), talmud, the work of medieval jurists like Maimonides, and host of rabbinical opinions (responsas) ever since. Levine is an Orthodox rabbi as well as a prof...
...under, sticking the bank with the loss. "If the bank you lend to has assets in a hedge fund that goes under then they are likely to go under," explains Craine. A coordinated interbank debt guarantee by governments would temper that fear of lending. There's a moral hazard here, too, in that a guarantee might tempt banks to get too risky again, but most experts say that hazard can be handled by forcing the banks to put up some of their own capital as margin. At the same time, depositors need to be assured that their money is safe...
...poorest of the poor. And yet, the instinctual responses to catastrophe—protectionism, withdrawal from the international political and economic community, and decreased foreign aid—must be challenged. On the edge of a global recession lies the perfect opportunity for the United States to retake the moral high ground and rejoin the world. The first step is to honor the pledges of the Millennium Development Goals...
Pope Benedict XVI's mostly warm but sometimes chilly relationship with the worldwide Jewish community may have just hit a major ice patch. On Thursday, Benedict put his moral weight (though not yet his signature) behind the cause for sainthood for Pope Pius XII, the wartime Pontiff who many Jewish leaders criticize for not having done enough to oppose the Holocaust...