China bars Glaxo finance chief from leaving

Is there morality in personal finance?

The executive, Steve Nechelput, has not been questioned or arrested and is free to travel within China, the British company said in a statement. It said it had been aware of the travel restrictions since the end of June. Nechelput continues to work in his role as finance director for the company’s China unit. Chinese police announced this week they have detained four GSK employees on suspicion of paying bribes to doctors, hospitals and others to encourage them to prescribe the company’s medications.

Further Progress on Housing Finance

The Treasury and the Federal Reserve both intervened to stabilize money market mutual funds in fall 2008, when those funds were less than $4 trillion of the then $51.8 trillion in credit market debt. Policy makers judged that a lockup of this aspect of United States financial markets would have an untenable negative impact on the economy. Given the considerably larger size of the mortgage market, one might reasonably expect a similar intervention in a future housing crisis. In this case, government intervention could be seen as latent and unpriced.

The problem with morality in money Of course, theres the down side to including ethics, virtue and morality in personal finance. Hollys commenter made the very sensible point that morality can replace math when it comes to your money decisions. Ive seen this happen, particularly with my mom, who has gone back into a store after being overcharged a few cents. Its the principle, I remember her saying. And in that case, principle trumped math, and I still dont think getting that change back was worth the time spent.

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