The Aspen Principles: A better way forward

 

If we have any doubt about the prevalence — and cost — of “short-termism” in U.S. capital markets, the current economic fallout ought to offer useful data. The subprime crisis, when the final losses are tallied, is being projected by some at $500 billion to up to $1 trillion in destroyed value. The cost of this crisis is felt not only on Wall Street by the banks with their massive loan write-offs but also on Main Street and in communities and neighborhoods by those least able to withstand the financial blow.

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