City Related

Most ethics codes effectively define a conflict of interest as a conflict between an official's personal financial interest and an official's obligation to the public interest. But this leaves out an enormous number of personal interests, many of which are themselves financial, including the financ…

Last month, I wrote about the conflict of interest that led credit agencies to ignore the risk inherent in mortgage-backed securities. A front-page article in today's New York Times shows how a different sort of conflict of interest at Citigroup allowed the risks involved in these securities to be …

A controversy currently going on in Fairfield, CT reminded me that one of the more easily misunderstood provisions of an ethics code is the special consideration, preferential treatment, or favoritism provision. The version in the City Ethics Model Code reads as follows: An official or employee may…