The online discussion on the MBA Oath continues, with one interesting forum being the Bogleheads Investment Forum. Although one commentator wonders if they would want their financial advisor making decisions based on their own idea of the common good, another points out that it is sorely needed:
Subscribing to a code of ethics is what makes a professional a professional. Doctors have one. Accountants have one. Engineers (PE’s) have one.
Engineering is a good example to revisit. As the Online Ethics Center at the National Academy of Engineering points out, there are a number of codes of ethics followed by professional societies.
The OEC also references a very interesting engineering case involving a financial insitution. In 1977, William LeMessurier, a distinguished structural engineer, came forward after discovering structural deficiencies in his design of the Citicorp tower and mobilized support in order to avert potential disaster despite the potential damage to his reputation.