Ethics Newsline®

“A key lesson from the recent scandals is that the checks on the system simply have not worked. The honor code among CEOs didn’t work. Board oversight didn’t work. Self-regulation was a complete failure. But one thing has worked: law enforcement.”

– New York State Attorney General Eliot Spitzer, championing the role of outside regulation in a Wall Street Journal column last week. (via “Spitzer Good for Business?” Reuters, Apr. 5)