WE NEED BETTER MOTU

(h/t Digby)

And by "better" I mean both ethically and technically. Felix Salmon gives us some telling descriptions of a few former heads of Goldman Sachs, America's premier Ayn Rand company. Stephen Friedman went on to become head of the NY Fed and after helping to arrange a couple of sweet, non-market, deals for GS, he forgot his moral bearings and purchased thousands of shares of GS stock. Shortly after that, he resigned under a cloud.

Perhaps more interesting is the Hank Paulson story, the man who initially wanted to be Holy Roman Emperor for Wall Street Bailing Out. Let's reflect that Goldman Sachs, like most modern firms, relies heavily on computers and electronic communications in order function at all. Mr. Paulson? Not so much:

Similarly, he hobbled his ability to communicate by refusing to ever touch email: instead, any time he wanted to say anything to anybody he’d have to do so over the phone or in person.