Skin in the Game
Warren Buffet says that it's high time CEOs of financial institutions assume their own salary is at stake when they make investment decisions for their companies.
Warren Buffet says that it's high time CEOs of financial institutions assume their own salary is at stake when they make investment decisions for their companies. "Buffett has been criticizing overreaching corporate managers and complaisant directors for decades. But the question of how to motivate good corporate behavior has taken on new weight as Washington debates reining in the financial giants whose missteps brought the economy to its knees two years ago. The Obama administration last month proposed separating banks' proprietary trading activities from their federally subsidized deposit-gathering and lending ones. Other proposed rules would increase the amount of capital banks hold against losses and how much cash they carry to deal with a surge of withdrawals. But Buffett said there's a simpler way to cap risk-taking: Forcing lavishly compensated CEOs to take responsibility for assessing the risks at their firms -- and putting their own wealth at stake, to boot. 'It is the behavior of these CEOs and directors that needs to be changed,' he wrote. 'They have long benefitted from oversized financial carrots; some meaningful sticks now need to be employed as well.'"
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Cosmologists propose a groundbreaking model of the universe using string theory.
- A new paper uses string theory to propose a new model of the universe.
- The researchers think our universe may be riding a bubble expanded by dark energy.
- All matter in the universe may exist in strings that reach into another dimension.
Evolution doesn't clean up after itself very well.
- An evolutionary biologist got people swapping ideas about our lingering vestigia.
- Basically, this is the stuff that served some evolutionary purpose at some point, but now is kind of, well, extra.
- Here are the six traits that inaugurated the fun.
For Damien Echols, tattoos are part of his existential armor.
- In prison Damien Echols was known by his number SK931, not his name, and had his hair sheared off. Stripped of his identity, the only thing he had left was his skin.
- This is why he began tattooing things that are meaningful to him — to carry a "suit of armor" made up the images of the people and things that have significance to him, from his friends to talismans.
- Echols believes that all places are imbued with divinity: "If you interact with New York City as if there's an intelligence behind... then it will behave towards you the same way.".
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