it s sometimes parsimoniously afforded to people. so you re now running for new york city comptroller. one of the duties in that job will be to manage $140 billion in pension assets. that is where a lot of the job s power comes from. you will go from being the sheriff of wall street to one of their largest customers. right. how do you how do you intend to use that? what is your sort of vision for how that will work? i ve spoken at some length over the years about the capacity of controller, state controllers, municipal controllers. those who control pension funds. those who are the institutional investors to use the rights and obligations i would say of ownership to reform corporate governance. we tried to regulate and prosecute our way to good governance. you can t regulate or prosecute your way to good judgment. ownership brings obligations. ownership trumps regulation in terms of the capacity to put good directors in place. to put good employees, good ceos. i think we have
afforded to people. so you re now running for new york city comptroller. one of the duties in that job will be to manage $140 billion in pension assets. that is where a lot of the job s power comes from. you will go from being the sheriff of wall street to one of their largest customers. right. how do you how do you intend to use that? what is your sort of vision for how that will work? i ve spoken at some length over the years about the capacity of controller, state controllers, municipal controllers. those who control pension funds. those who are the institutional investors to use the rights and obligations i would say of ownership to reform corporate governance. we tried to regulate and prosecute our way to good governance. you can t regulate or prosecute your way to good judgment. ownership brings obligations. ownership trumps regulation in terms of the capacity to put good directors in place. to put good employees, good ceos. rick management. i think we have abdicated th
that is where a lot of the job s power comes from. you will go from being the sheriff of wall street to one of their largest customers. right. how do you how do you intend to use that? what is your sort of vision for how that will work? i ve spoken at some length over the years about the capacity of controller, state controllers, municipal controllers. those who control pension funds. those who are the institutional investors to use the rights and obligations i would say of ownership to reform corporate governance. we tried to regulate and prosecute our way to good governance. you can t regulate or prosecute your way to good judgment. ownership brings obligations. ownership trumps regulation in terms of the capacity to put good directors in place. to put good employees, good ceos. rick management. i think we have abdicated that responsibility. the phrase passive institutional investors has sort of become a cliche but is an apt description of how the major pools of capital fail