Posts Tagged ‘fiduciary’

On corruption

A few weeks ago, I attended a fiduciary bootcamp. I didn’t even know what it meant.

“involving trust, esp. with regard to the relationship between a trustee and a beneficiary : the company has a fiduciary duty to shareholders.”

It was generally not a productive use of my time, but a choice quote through it all, caught my attention.

We need to recognize corruption for what it is. Officials who take bribes are stealing from their own people – not just money but governmental legitimacy and the hope of a better future. Their actions distort government decisions, waste scarce resources, and undermine public trust in political leaders and institutions. What’s more, corruption makes it more difficult for governments to implement laws and policies, and to attract and hold essential foreign investment.

Larry Fisher

This was presented at his keynote address at Rice University, in a talk titled “Taking a corporate stand against public corruption“. Choice reading (and I don’t normally consider reading stuff from a lawyer, choice reading).