Bush's Appeal to Morality Falls Short

Updated from 12:50 PM EDT

That thud you heard on Wall Street Tuesday wasn't just the sound of plummeting stock prices. It was also the echo of President Bush's much-heralded speech on corporate responsibility falling flat.

Billed by the White House as a stern message to the evil-doers on Wall Street and in corporate America, Bush's half-hour speech seemed more like a recitation of the Golden Rule. That is, Bush's main message was that corporate executives need to adopt "a new ethic of responsibility'' and honesty.

Bush, the first U.S. president with an M.B.A., even called on the nation's business schools to spend more time teaching their students the difference between right and wrong.

Do Unto Investors

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