We are witnessing the decline and fall of the investment-banking profession as we have known it for the past 40 years. The evidence is everywhere. The increasing regulations on Wall Street ― as required by the Dodd-Frank law and still being written by the Federal Reserve, the Securities and Exchange Commission, the Commodities Futures Trading Commission and others agencies in the U.S. and Europe ― will require the remaining companies to increase their capital, curb their risk-taking and reduce t

 

Dr. Kang Young-woo is bidding farewell to his friends and the numerous people around the world for whom he demonstrated that physical disabilities pose no impediment to a successful life. The former policy advisor to President George W. Bush on disability and current vice chair of the World Committee on Disability has been struck with cancer.“I thank God for allowing me the time to say good-bye to the people I love after living the happiest life possible,” Dr. Kang, who has worked for promotion

North Korea holds the funeral for Kim Jong-il in Pyongyang on Wednesday, 11 days after his reported death on Dec. 17. On Monday evening, DPRK’s new leader Kim Jong-un briefly met two visitors from Seoul offering condolences, former first lady Lee Hee-ho and Hyun Jung-eun, chairwoman of the Hyundai Group, the main business partner with the North until the suspension of inter-Korean economic cooperation in 2008.Despite the suddenness of the leader’s death from a heart attack, North Korea seems to

In cultural commentary about the American economy, one company at a time always seems to be the goat. Everything it does is interpreted as evil. In the 1950s, it was General Motors. GM’s CEO, Charles “Engine Charlie” Wilson, became a national figure of ridicule for telling a congressional committee, “What’s good for General Motors is good for America.” Except that he actually said, “For years I thought that what was good for the country was good for General Motors and vice versa” ― which is quit

The scary decline of relations between the United States and Pakistan ― the world’s most dangerous nuclear-armed country ― is illustrated by the perilous plight of one man.Husain Haqqani was, until recently, the savvy and energetic Pakistani ambassador to Washington, dubbed by Bloomberg “the hardest working man in DC.” His job was thankless: trying to maintain ties between two countries that deeply distrust each other.Pakistan’s military disliked Haqqani because of his long-standing opposition t

Kim Seong-kon in “One exam decides your future” wrote an interesting piece in this paper last Wednesday (Dec. 21). Whilst sympathetic to the view of the writer, there was a hint that creative education was somehow linked to the “foreign” issue and that, yet again, Koreans are having to adapt to the external whims of foreigners. I would like to add a few reflections. On meeting President Obama earlier last month, President Lee in classic Korean style “complained” that the problem with Koreans is

In December 1908, the insurance industry declared war on Christmas. The New York Board of Underwriters issued an announcement to every client of every fire-insurance firm in the city.It read:Your attention is hereby respectfully called to the fact that the introduction about the premises of Christmas green, harvest specimens and other inflammable materials, such as cotton, to represent snow, and the like, and the use of moving picture machines, introduces additional hazard not contemplated by th

When 13 medical, pharmaceutical and medical instruments industry organizations held a joint rally last week to pledge to put an end to the practice of rebates between the medical goods suppliers and doctors, the Korea Medical Association, a powerful organization of doctors, did not take part. The KMA’s excuse was that the declarative action would have little effect and participating in such a move was like admitting that all doctors are corrupt.The body of nearly 100,000 medical doctors was in f

Schools in Korea are in crisis from the elementary to university level. Problems range from costly and prevalent off-school classes and high tuition fees for college students to rows between liberal and conservative educators over “human rights” in school. Classroom violence has worsened and adult society, preoccupied with its own problems, does not know what to do. The suicide of a middle school boy in Daegu last week once again alarmed teachers and parents about the growing evil of bullying in