Mr Goldstein's boss, Hans-Peter Bauer, who was in charge of fixed income, currency and derivatives trading, went by the wayside just before Christmas.

ECONOMIST: Is this marriage a mistake?

Economist Peter Bauer pointed out some of the reasons for this some years ago, including the fact that foreign aid tends to end up under the control of the elites in developing countries.

FORBES: $4.6 Trillion Later, Foreign Aid Remains An Economic Somnolent

The recent passing of Peter Bauer, a courageous economist who spoke up for the role of initiative, reward and justice in developing countries and derided subsidies to corrupt rulers, stilled one source of that truth.

FORBES: Capital and capitalism