A shift in the focus of finance research is needed so that it can benefit society. Practitioner-oriented journals should take the lead by proactively asking academics and practitioners to identify topics that address nascent challenges facing the financial system and invite them and policy-makers to submit articles that shed light on the issues and recommend solutions. A proposal worth considering is to tie senior management compensation to the need for financial infusions by taxpayers in the event of systemic failures induced by excessive and fraudulent risk-taking. In such cases, the penalties imposed on management would involve a clawback of past and present compensation.