Word: transaction
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...Talmud speaks of establishing a "fence" around the law, making restrictions that may not make sense in and of themselves but that serve to keep one away from more serious violations. (For example, because one is not allowed to transact with money on the Sabbath, one is not allowed even to touch money on the Sabbath.) The prohibition we have today--no selling of any organs, from the living or the dead--is a fence against the commoditization of human parts. Laudable, but a fence too far. We need to move the fence in and permit incentive payments for organs...
Many of "Bill Gates' New Rules" [BOOK EXCERPT, March 22] for accelerating and improving business transactions are very appropriate and useful. However, Rule No. 5, "Convert every paper process to a digital process," is worrisome. Gates complains of "administrative processes that were too complicated and time-intensive." He could even swing some environmentalists to this rule because it would reduce paper consumption. However, the temptation to cut down on waste and the desire to transact efficiently cannot supersede the importance of having cold, hard documentation of highly valuable transactions. Let's not go too far in risking our rights...
HomeLink and other packages like it are great if you have a bank account locally and just want to access it electronically. If you're really interested in Internet banking, however, you can now transact all your banking without ever seeing a banker, or even a bank branch...
HomeLink and other packages like it are great if you have a local account and just want to access it electronically. If you're really interested in Internet banking, however, you can now transact all your banking without ever seeing a banker or even a bank branch...
...prompted some Wall Street sages to warn that many of the newfangled instruments could be spinning far beyond anyone's control. The Jeremiahs include investment banker Felix Rohatyn, 65, one of Wall Street's elder statesmen, whose son Nicolas, 33, runs a J.P. Morgan department that uses derivatives to transact business in emerging markets in Asia, Eastern Europe and Latin America. "There's a whole different world in off-balance-sheet transactions that are potentially quite dangerous if people don't know what they're doing and a chain of financial commitments breaks down," says the elder Rohatyn. "These...