Code of the West Becomes the Law of Wyoming

The state of Wyoming has passed an official Wyoming state code, with Wyoming Governor Dave Freudenthal signing the legislation Wednesday, March 3, 2010.

The 10 rules are from a Code of the West in the book Cowboy Ethics: What Wall Street Can Learn from the Code of the West by Jim Owen.

Jim made some money on Wall Street before retiring to a life of authorship and social entrepreneurship. We thought we'd compare his Code of the West with what we understand to be the Wall Street Creed.

The symbolic measure spells out 10 ethics derived from a "Code of the West" outlined in a book by author and retired Wall Street investor James Owen.

Well , with Wyoming Governor Dave Freudenthal signing the legislation Wednesday, March 3, 2010.

Code of the West	Wall Street Greed Creed
Live each day with courage	Live for the moment
Take pride in your work	You are what you are paid
Always finish what you start	Bankruptcy or bailout is always an option
Do what has to be done	Someone else's problem
Be tough, but fair	Somebody wins, somebody loses
When you make a promise, keep it	So sue me
Ride for the brand	Sell to the highest bidder
Talk less, say more	Pump it and dump it
Remember that some things are not for sale	Everything has its price
Know where to draw the line	Look for the loopholes

Actually, we've spent time in Wyoming and other parts of the West. The West has no monopoly on ethics, and we have seen honest men and women on Wall Street. Still, there is something to the idea that the old values are the best values.