Thursday, March 4, 2010

Code of the West Becomes the Law of Wyoming

The state of Wyoming has passed an official Wyoming state code, with Wyoming Governor Dave Freudenthal signing the legislation Wednesday, March 3, 2010.

The 10 rules are from a Code of the West in the book Cowboy Ethics: What Wall Street Can Learn from the Code of the West by Jim Owen.

Jim made some money on Wall Street before retiring to a life of authorship and social entrepreneurship. We thought we'd compare his Code of the West with what we understand to be the Wall Street Creed.

The symbolic measure spells out 10 ethics derived from a "Code of the West" outlined in a book by author and retired Wall Street investor James Owen.

Well , with Wyoming Governor Dave Freudenthal signing the legislation Wednesday, March 3, 2010.

Code of the WestWall Street Greed Creed
Live each day with courageLive for the moment
Take pride in your workYou are what you are paid
Always finish what you startBankruptcy or bailout is always an option
Do what has to be doneSomeone else's problem
Be tough, but fairSomebody wins, somebody loses
When you make a promise, keep itSo sue me
Ride for the brandSell to the highest bidder
Talk less, say morePump it and dump it
Remember that some things are not for saleEverything has its price
Know where to draw the lineLook for the loopholes

Actually, we've spent time in Wyoming and other parts of the West. The West has no monopoly on ethics, and we have seen honest men and women on Wall Street. Still, there is something to the idea that the old values are the best values.

No comments: