Acting in an ethical way involves distinguishing between “right” and “wrong” and then making the “right” choice. While it is relatively easy to identify unethical business practices, it is not always easy to create similar hard- and-fast definitions of good ethical practice. Making money is not unethical, but doing the same in an immoral way is unethical.
Mr. Draghi: There needs to be significant progress in developing greater transparency so we can understand what's on banks' balance sheets and what valuations are. WSJ: More specifically? Mr. Draghi: In the future, there is going to be an unavoidable move toward standardization.