And, like the rest of the American system indeed, like the equity culture itself it is seeping into other countries.More vigorous corporate governance is certainly needed outside America.
In India, voters are starting to demand good governance, and vigorous social movements against injustice — caste oppression, sexual violence and environmental degradation — are making a dent.
South Korea made a vigorous attempt to improve corporate governance, increasing the rights of minority shareholders, boosting the role of outside directors, punishing improper disclosure and requiring the chaebol to publish consolidated financial statements.
"On our part, we will be extremely vigorous in our pursuit of good governance priorities, including the rule of law and the fight against corruption," he said.
As a rule, foreign banks bring in much-needed capital, new technology and high prudential standards that rub off on local rivals.Economic policy mattersHowever, extinguishing banking's fires will take more than vigorous competition and better regulation and governance.
Powerful regulatory regimes -- strong accounting rules, strict corporate governance, tough securities laws, and vigorous civil and criminal enforcement of the regulations and laws is the greatest infrastructure for strong economic growth that a nation can provide.
But as another presidential campaign looms, the FCC decision on municipally owned broadband may offer more fertile ground for a vigorous political debate on the role of government and the scale of governance.
The government must realize to ensure transparency by putting vigorous efforts to envisage the involvement of whole society in governance.
Playing the role of wiser older brother, Mr. Castro, 74, whose voice occasionally cracked, also offered advice on governance to Mr. Chavez, who is a very vigorous 46.
