Chris Cummins has been named director at Kroll Advisory Solutions, a unit of the global risk manager. He will lead business development efforts in the health care space, focusing on information security incident response, computer forensics, HIPAA security risk assessments and data breach notification and remediation solutions. Cummins was formerly with MyHealthDIRECT for about two years and before that worked at Informa Investment Solutions and Thomson MedStat. He serves on the board of directors of both Franklin Tomorrow and The Friends of Franklin Parks.

The insurance attorneys at Bass Berry & Sims say an overhaul of Tennessee's captive insurance regulations, which had been a priority for the Haslam administration, "places Tennessee on the short list of states senior management should consider when looking to establish a self-insurance vehicle." The new framework allows for coverage of a wide range of risks, including workers' compensation.

SEE ALSO: Haslam administration wants bigger captive insurer market from back in February

In Brazil -- which learned a thing or two about frenzied finance during its many bouts with hyperinflation -- bank directors, senior bank officers and controlling bank stockholders know that they are personally responsible for the solvency of the institution with which they are associated. Let it fail, and their net worths are frozen for the duration of often-lengthy court proceedings. If worse comes to worse, the responsible and accountable parties can lose their all.

Let’s put in better capital requirements. Let’s put limits on leveraged borrowing. And, most of all, let’s get rid of the too-big-to-fail doctrine. That is probably the root cause of all of these problems.

The administration seems to believe that pushing trading activity outside the banks will make the entire financial system more stable. This is also questionable.