In the unfolding Wall Street scandals, outgoing Securities and Exchange Commissioner John S.R. Shad has been dismayed by how many of the indicted traders are graduates of top business schools. Last week, to bolster ethical training at his alma mater, the Harvard Business School, former Investment Banker Shad made a reported $20 million down payment on a gift that other alumni contributions will eventually bring to $30 million, the school's largest gift ever. The money will endow chairs and underwrite case studies in ethical issues. In the words of Dean John McArthur, it will allow ethics "to be imbedded in the...
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