From the Inside Flap
Even now, in the wake of the worst financial crisis since the Great Depression, Wall Street bankers, fund managers, and corporate leaders, in an effort to appease unrealistic shareholder expectations while feeding their own corrosive greed, are doing all in their power to avoid reform. Untroubled by the economic calamities they helped engender in the past, and unfazed by toothless reform efforts such as Dodd-Frank, too-big-to-fail banks are bigger and more unaccountable than ever. Everything from Ponzi schemes to massive accounting fraud, interest rate rigging to money laundering on an epic scale continue to chip away at the foundations of the global economy.

As the excesses of private greed continue to undermine the public good on a level never before witnessed, one can only wonder if Adam Smith's "virtuous circle" has, at last, gone off the rails, and, if so, what can be done to set it right once again and restore the ethical compass of a once great economic system.

In The End of Ethics and a Way Back, Theodore Malloch, author of the international bestseller Doing Virtuous Business, and attorney and Yale University postdoctoral fellow, Jordan Mamorsky, make an impassioned call for an end to corrupt and irresponsible capitalism and the restoration of a more virtuous, ethics-based version. More importantly, they offer cogent, well-reasoned prescriptions for how to achieve that end.

In Part One, the authors explore some of the most outrageous recent examples of financial vice, including the LIBOR scandal, the demise of Lehman Brothers, ratings agency corruption, John Corzine's MF Global, Tyco, and Bernie Madoff's two-decade Ponzi scheme, among others. In a series of compelling case studies, Malloch and Mamorsky chronicle how those organizations and their leaders lost their way and the havoc their reckless, often criminal activities wreaked globally.

In Part Two, the authors concentrate on what can be done to pull us back from the brink of total economic chaos. They propound well-reasoned solutions to problems deeply embedded in global markets and corporate cultures, including:

Restructure the SEC and staff it with better qualified, better compensated investigators
Institute new rules of the financial game, beginning with reinstitution of Glass-Steagall
Take the exotic derivatives market in hand—including the aggressive regulation of CDSs
Devise aggressive new accounting rules to curtail accounting gimmickry and "shadow banking" leading to off–balance sheet risk
Reign in the commodities markets with better and more frequent regulatory audits and smarter corporate governance
Implement stronger fiduciary standards and enhanced transparency for retail investors
Offering a penetrating, at times controversial analysis of the demise of virtuous capitalism, and a road map for achieving a return to ethics, virtue, and sustainable economic growth—The End of Ethics and a Way Back is a must-read for lawmakers, financial regulators, financial advisors and auditors, journalists and media commentators, and all thoughtful observers of current affairs.

From the Back Cover
"An extraordinarily insightful work! This book takes the reader from the symptomatic to the seminal issues in corporate ethics. Ted Malloch brings home to us in no uncertain terms that economic value cannot sustain itself without the foundation of wholesome human values. CEOs, leaders in governments, and heads of educational institutions and the non-profit sector will benefit immensely from reading this work. It is easily one of the best books I have read in a decade."
—Professor Debashis Chatterjee, Director, Indian Institute of Management, Kozhikode; author of Timeless Leadership

"Malloch takes a stand against the 'world disorder' of economic vice and short-term thinking that he argues has eroded values on Wall Street, Main Street, and throughout society. A sobering assessment rooted in virtuous principle and a passion for rebuilding trust, reimagining our institutions, and demanding better of ourselves."
—Dipak C. Jain, Dean, INSEAD, France

"The authors of this book understand the crucial distinction between ethics and mere compliance, and convey the decline of ethical values in the workplace in a clear and straightforward manner. This is a very important book for those seeking to get the financial system back on the right track."
—Jonathan R. Macey, Sam Harris Professor of Corporate Law, Corporate Finance, and Securities Law, Yale Law School

"The End of Ethics is like a plumb line. It goes straight to the heart of the issue. Highly readable, it pulls no punches in detailing some of the worst cases of recent economic fraud. Then it puts forward sensible solutions that can discourage such widespread abuse of our freedoms. Read it to understand what is wrong with our current form of capitalism and how you can help to set it right."
—Prabhu Guptara, Executive Director, Wolfsberg UBS, Switzerland

"The End of Ethics provides a fascinating account of the interaction between personal greed, flawed corporate cultures, and a lack of accountability and oversight within the broader financial system. The conclusions it draws are as much an injunction against the tacit acceptance within many corporations that greed is good, as it is a challenge to re-establish capitalism's moral compass. As such, this book educates and inspires."
—Mollie Painter-Morland, Associate Director and Professor, Institute for Business and Professional Ethics, DePaul University

About the Author
Theodore Roosevelt Malloch is Research Professor for the Spiritual Capital Initiative at Yale University. He was Chairman and Chief Executive Officer of The Roosevelt Group, a leading strategic management and thought leadership company. He has served on the executive board of the World Economic Forum-Davos; has held an ambassadorial-level position at the United Nations in Geneva, Switzerland; worked in the U.S. State Department and Senate; worked in the capital markets at Salomon Brothers on Wall Street; and has sat on a number of corporate, mutual fund, and not-for-profit boards, including the University of Toronto International Governing Council, a Pew Charitable Trust board, and the Templeton Foundation. Ted earned his PhD in international political economy from the University of Toronto.

Jordan D. Mamorsky is an experienced attorney specializing in business regulation, corporate governance, and compliance. He was a postdoctoral fellow at Yale University where his research focused on the legal, financial, and ethical failures that contribute to financial crisis, corporate illegality, and breach of legal fiduciary duties. Jordan formerly worked at the U.S. Treasury Department, where he received the "special act award" in recognition of his recommendations detailing the dangers of predatory subprime lending in low-income communities. He is a contributor to Morningstar Advisor. He is an active practicing attorney and has represented Fortune 500 companies, global investment banks, insurance companies, hedge fund managers, health services corporations and an international sports league, among other clients.