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Howard Gardner
Scholar

Howard Gardner

Howard Gardner is the Hobbs Professor of Cognition and Education at the Harvard Graduate School of Education and Senior Director of Harvard Project Zero.

Still Time for Mea Culpas

In his speech this Monday President Obama suggested various steps that Wall Street can voluntarily undertake to show it is serious about reform. Personally I am dubious that Wall Street will heal itself. That's because the kinds of persons who have been attracted in recent years to 'the Street" are those looking for huge, immediate payoffs, who have little regard for long-term consequences for their firm or for the economy. Should Wall Street undertake the suggested reforms, of course, that would be a good sign.

But more generally, new recruits are most likely to be impressed, and to consider an alternative course of action, if leading Wall Street figures, who were distant from the causes of the meltdown, would still take some responsibility for what has happened, issue sincere mea culpas, and work aggressively for the kinds of reforms that are essential (e.g. renouncing
ridiculously high bonuses). If they do this, I am happy to admit that my doubts were misplaced.

Otherwise, the Congress will have to initiate the kinds of tough regulations that Pres. Obama has called for and that many on Wall Street would prefer to avoid--thus, alas, leaving the door open for a repeat of September 2008.

By Howard Gardner

 |  September 14, 2009; 1:01 PM ET
Category:  Economic crisis Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   Del.icio.us   StumbleUpon   Technorati  
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I would like to suggest that we put a cap on Harvard professors salaries because of all the people in this country, they are without a doubt the most vacuous nitwits around. They know it all and yet have never done a thing to create a job, build a business, take a risk or protect a freedom. They are worthless and their opinions are less than worthless, their salaries should be based on that, and if anything they should be paying to be on the staff of a once fine institution like Harvard. Project Zero is certainly aptly named because this guy is obviously a zero dressed as a prof.

Posted by: LadyChurchillUSA | September 16, 2009 12:35 PM
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