Undue Risk

From the courtrooms of Nuremberg to the battlefields of the Gulf War, Undue Risk exposes a variety of government policies and specific cases, includingplutonium injections to unwilling hospital patients, and even the attempted recruitment of Nazi medical scientists bythe U.S. government after World War II.

From the courtrooms of Nuremberg to the battlefields of the Gulf War, Undue Risk exposes a variety of government policies and specific cases, includingplutonium injections to unwilling hospital patients, and even the attempted recruitment of Nazi medical scientists bythe U.S. government after World War II.

A critical look at over 80 years of conflict, collusion, and corruption between financiers and politicians Undue Influence paints a vivid portrait of the dealings between "the few", in this case members of Congress, the banking community, and the Fed, and sheds light on how radical new deregulatory measures could be introduced by unelected officials and then foisted upon Congress in the name of progress. In the process, the background of the new financial elite is examined-because they are markedly different than their predecessors of the 1920s and 1930s. Undue Influence also brings readers up to speed on other important issues, including how the financial elite has been able to perpetuate itself, how the markets lend themselves to these special interest groups, and how it is possible that after 80 years of financial regulation and regulatory bodies the same problems of financial malfeasance and fraud still plague the markets. Charles R. Geisst (Oradell, NJ) is the author of 15 books, including Wheels of Fortune (0-471-47973-X), Deals of the Century (0-471-26397-4) and the bestsellers Wall Street: A History and 100 Years of Wall Street. Geisst has taught both political science and finance, worked in banking and finance on Wall Street and in London, as well as consulted. His articles have been published in the International Herald Tribune, Neue Zurcher Zeitung, Newsday, Wall Street Journal, and Euromoney.

If risk aversion and willingness to take on risk are driven by emotions and we as humans are bad at correctly identifying them, the finance profession has a serious challenge at hand—how to reliably identify the individual risk profile of a retail investor or high-net-worth individual. In this series of CFA Institute Research Foundation briefs, we have asked academics and practitioners to summarize the current state of knowledge about risk profiling in different key areas.

Science, as Andrew Goliszek proves in this compendious, chilling, and eye-opening book, has always had its dark side. Behind the bright promise of life-saving vaccines and life-enhancing technologies lies the true cost of the efforts to develop them. Knowledge has a price; often that price has been human suffering. The ethical limits governing use of the human body in experimentation have been breached, redefined, and breached again---from the moment the first plague-ridden corpse was heaved over the fortifications of a besieged medieval city to the use of cutting-edge gene therapy today. Those limits are in constant need of redefinition, for the goals and the techniques have become both more refined and more secretive. The German and Japanese human experiments of the 1930s and 1940s horrified the world when they came to light. These barbaric exercises in pseudoscience grew out of assumptions of racial superiority. The subjects were deemed subhuman; ordinary guidelines could therefore be suspended. What has happened in the decades since World War II has differed only in degree. Explicitly or implicitly, any organization or government that undertakes or sponsors scientific research applies some measure of human worth. Experimentation rests upon an equation that balances suffering against gain, the good of the collective against the rights of the individual, and the risk of unknown consequences against the rewards of scientific discovery. Everything depends upon who makes that equation. The sobering and gripping accumulation of evidence in this book proves exactly what has been justified in the name of science. The science of "eugenics" justified enforced sterilization. The need to gain an upper hand in the Cold War justified CIA experiments involving mind control and drugs. The desperate race to control nuclear proliferation was used to justify radiation experiments whose effects are still being felt today. Chemical warfare, gene therapy, molecular medicine: These subjects dominate headlines and even direct our government's foreign policy, yet the whole truth about the experimentation behind them has never been made public. Though not a cheering book, In the Name of Science is a crucially important one, and it deserves a wide audience. A biologist by training, Goliszek presents each topic clearly and explains fully its significance and implications. Connecting the history of scientific experimentation through time with the topics that are likely to dominate the future, he has performed an invaluable service. No other book on the market provides the research included here, or presents it with such persuasive force.

The regulation of potentially hazardous substances has become a controversial issue. This volume evaluates past efforts to develop and use risk assessment guidelines, reviews the experience of regulatory agencies with different administrative arrangements for risk assessment, and evaluates various proposals to modify procedures. The book's conclusions and recommendations can be applied across the entire field of environmental health.