Recently, in an alumni newsletter, I read a story about a fund raiser in memory of Lisa Marie Muccilo, an alumnus of Manhattan College. She went to the school at around the time that I did, but even though I recognized her photo, I did not know her too well in college. I searched the web and found out that she lived a remarkable life. Her story offers lessons for everyone, but in particular Wall Street.
Five years after graduating college, Lisa was diagnosed with an aggressive form of breast cancer. She fought the disease before losing the battle in 2003. However, what makes Lisa’s story so compelling and her legacy so beautiful is what she did during those last six years of her life while fighting her illness. From the time she was diagnosed, “and while still working as an engineer, she founded the Northern New Jersey branch of the Young Survival Coalition (YSCNJ) where she served as an officer and board member. She also went on the advisory committee for a drug panel, was twice invited to the White House, co-starred in a lifetime TV documentary, raised over $100,000 for the YSCNJ in 2003, joined then Vice President Dick Cheney at lunch with other breast cancer heroes, implemented the MAAC Fights Back Program, and spoke with students, corporations and other breast cancer survivors. She also worked hard at helping those around her cope with her disease.” (Please note, the sources of this material, some copied word for word, came from Jasper Jottings Daily, the Val Skinner Foundation, and YSCNNJ).
The way she lived her life offers four ways that can help transform Wall Street into a better place. Before continuing, it is important to understand that I used Wall Street as an example because I am a product of the industry. I also understand that Wall Street does many things right, and that there are plenty of other industries and governments that can learn these lessons too. However, once in a while, it makes sense to reflect on how your own profession could do things even better, and Lisa’s example sets that standard.
The first way Wall Street can learn from Lisa is by looking at how selflessly she worked to help others while going through the most difficult of circumstances. If there is something that Wall Street can learn to do it is to be more selfless, even under its most recent trying times. Lisa set a supreme example of how to help others. Look at the amazing things she accomplished during her battle with breast cancer.
Second, Lisa helped others by giving feedback through a pharmaceutical advisory board. Wall Street could learn to seek outside feedback and could do this by creating an independent financial advisory board. The panel would include people from outside of the industry as well as industry experts to advise on everything from the use of the much misunderstood esoteric credit derivatives to pay packages and other ethical questions.
Third, Lisa worked to change the image of breast cancer away from one that afflicted just older women to one that also afflicted the young. Wall Street could learn something from this process of image change. The Main Street image of Wall Street as the Gordon Gekko tycoon from the movie Wall Street (a classic movie though it is), out for only its own interests, needs to change.
Fourth, Lisa got the word out on prevention: what was happening to her should not happen to other young women in the future. Wall Street too could seek ways to prevent a future financial panic like the current one from ever happening again. I am a student of economics and understand that capitalism is susceptible to financial panics. However, even though it is impossible to prevent a financial meltdown, lessons can be learned to lessen its effects. Lisa again serves as an inspiration. After diagnosis, she became an advocate of getting the word out, she was in a TV documentary and her picture with her story was placed in a shopping mall. Wall Street needs to do the same thing by learning from its past.
I felt compelled to write about Lisa Marie Muccilo because of all the wonderful things she did while going through the most trying of circumstances. Wall Street can learn from her and improve some of its ways. With time, others will see improvements too. In the months ahead, I will be exploring ways of helping to continue some of the good work that Lisa Marie Muccilo has started.
For more on Lisa from the Val Skinner foundation: http://www.valskinnerfoundation.org/muccilo.php?PHPSESSID=5ab25d8168b008033557b90ea06c7f5f
For more on Lisa from the Manhattan College Alumni newsletter:
http://jasperjottings-daily.com/2009/01/30/jemail-mcgrath-erin-m-mc1992-memorializes-lisa-marie-muccilo-92-on-228-at-halftime/
For more on the Young Survival Coalition of Northern New Jersey:
http://www.youngsurvival.org/northernnewjersey
For more on breast cancer:http://www.cancer.gov/cancertopics/types/breast
Tuesday, August 4, 2009
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