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Warren Buffett on Business: Principles from the Sage of Omaha by Richard J. Connors

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12.2. Contrition

"Gutfreund's silence regarding Mozer was 'inexplicable and inexcusable.'"[]

"We did wrong. We're going to show how we did wrong. We've signed the charge sheet."[]

"I would like to start by apologizing for the acts that have brought us here. The Nation has a right to expect its rules and laws will be obeyed. At Salomon, certain of these were broken."[]

"I want employees to ask themselves whether they are willing to have any contemplated act appear on the front page of their local paper the next day, to be read by their spouses, children and friends. . . . If they follow this test, they need not fear my other message to them: Lose money for the firm, and I will be understanding; lose a shred of reputation for the firm, and I will be ruthless."[]

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