Eugene Rotberg: Use

“Never penalize those who work for us for mistakes or reward them for being right about markets. It will go to their heads, is counterproductive and, in any event, material compensation will not correlate with their ability to predict the future next time.”

Eugene Rotberg

“'The only perfect hedge is a Japanese garden': Speech to the National Association of Corporate Treasurers." http://www.generotberg.com/speeches/1990s/The%20Only%20Perfect%20Hedge%20is%20a%20Japanese%20Garden.pdf. (1990)

Time , Future

“Ignore accounting conventions. They are not useful risk management tools; they are designed to make our lives easier and comfortable.”

Eugene Rotberg

“Freud, Galileo and Darwin told us, at different times and in different ways, that we are not the center of the universe; that we do not have control; that we do not fully understand our motivations; that we are not all that special. They did not have an easy time of it—for each society wants to believe that it can exercise control over its own destiny and over others. I suspect their findings apply not just to science or personal behavior, but to the way power and leverage can be exercised by nation states. Yours, I suspect, will be the first generation which will have to achieve results with neither military nor economic predominance—no matter where you sit.”

Eugene Rotberg

Informal remarks, University of Pennsylvania Law School. http://www.generotberg.com/speeches/2000s/Selected-from-Remarks-Penn-Law-092206.html, 2006

Way , Behavior , Exercises , Motivation

“Sigmund Freud would have been a wonderful witness here. He would have explained the use of derivatives as denial and rationalization—the pretense that we are doing one thing when we really mean to do something else; the relationship between the banker and its client as one of ambivalence and reliance on the father figure; the use of accounting conventions as repression and the absence of reality testing; the work environment as the pleasure/pain principle—current pleasure for future damage, let someone else pick up the pieces; leveraging and doubling our bets as counter-phobic behavior; termination therapy as what happens when the CFO and Treasurer get caught; and, of course, transference—how the trader seeks to shift responsibility to his or her superior when the string runs out.”

Eugene Rotberg

Testimony before the U.S. House of Representatives Committee on Banking, Finance and Urban Affairs. http://3197d6d14b5f19f2f440-5e13d29c4c016cf96cbbfd197c579b45.r81.cf1.rackcdn.com/collection/papers/1990/1994_0623_RotbergTestimony.pdf, 23 June 1994

Pain , Pleasure , Behavior , Reality