Simon Johnson, a former chief economist of the IMF, is a professor at MIT Sloan, a senior fellow at the Peterson Institute for International Economics, and co-founder of a leading economics blog, The Baseline Scenario. He is the co-author, with James Kwak, of White House Burning: The Founding Fathers, Our National Debt, and Why It Matters to You.

Boards on Their Backs
Gunnar Eriksson: All large banks should be required by society to present a mission for their operation with demonstrated strategies for its implementation. Large organizations consist of people and a mission will be …