In his legendary 19th century strategic treatise vom Kriege (On War), Carl von Clausewitz articulates several key principles of successful military strategy. President Obama, in his recent decision regarding our Afghanistan strategy, appears to have neglected many of these critical components. “Fog of war” is Clausewitz’s way of describing the opaqueness and resultant uncertainty inherent in any military campaign.
In his first inauguration speech, President Franklin D. Roosevelt observed that the titans of Wall Street “have fled from their high seats in the temple of our civilization”--an apt description for the lashing of Wall Street leaders this month in front of the House Financial Services Committee. Chairman Barney Frank and the members of his committee were less eloquent than FDR in their criticisms of the current Wall Street CEOs, but the point was the same--the public has lost faith in the leadership of our financial community. How have we come full circle over 75 years after FDR?