Forum Post: We Need to Promote Ethical Behavior
Posted 12 years ago on Nov. 9, 2011, 8:41 a.m. EST by Toynbee
(656)
from Savannah, GA
This content is user submitted and not an official statement
This article below is one small example of illegal/unethical behavior by corporations.
http://www.guardian.co.uk/world/2011/apr/03/us-bank-mexico-drug-gangs
Wachovia -- bought by Wells Fargo -- helped launder $378 billion of criminal and drug money out of Mexican into the US banking system.
That's equal to one-third of Mexico's national budget.
The investigator claimed that Wall Street and the City of London are two of the biggest money laundering and tax havens in the world.
This was outlined in Treasure Islands.
http://treasureislands.org/the-book/
http://www.failuremag.com/index.php/book_review/article/treasure_islands
Yet -- shockingly -- nobody is going to jail. The fine/forfeiture was $160 million, about 2% of Wells Fargo 2009 profits.
Just as shocking: The Wachovia whistleblower investigator lost his job after warning management of the problem.
The Wachovia scandal was hardly mentioned by U.S. news outlets.
Occupy Wall Street should spot light the criminal activities on Wall Street. Our capitalism is totally corrupted. None of this is truly punished.
http://www.guardian.co.uk/world/2011/apr/03/us-bank-mexico-drug-gangs
This is so true. Nobody. If that doesn't send a message, man. That's probably why they want even less regulating even after what went down.
Truthfully if don't get justice here, it is a bad sign for our way of life.
Thanks for his post. In balance though, not all corporations are bad actors. However, it's tough to legislate out risky and greedy behavior.
I agree. But it is easy for cops to catch a petty druggie, vagrant, shop lifter, or speeding violation.
But cops are too outmatched, unprepared, under-trained, and out of their league to bust the real corporate crooks.
I also agree that not all corporations are bad actors.
But there are plenty who are.
There are also plenty who change the laws, through lobbying efforts, so that smelly and unethical behavior is no longer illegal.
Ethics! Ethics! Ethics!
True. But how does one achieve an ethical tobacco corporation? Or an ethical missile corporation? I think the root of your approach is in how the incentive is laid out before them: 'make as much money as possible - show the highest possible effort, at all cost, for your investors.' They're obliged to mow you down if you're in the way of their quarterly earnings.
total destruction,the only solution, corruption is the Rule, Deception is the tool, Derivatives,naked short sales,futures contracts, printing money,backed by no goods or services,selling and trading things that don't exist..These are highly organised criminals, making their last stand before the Hammer comes down on their Heads..Heads will roll, People will not tolerate injustice and corruption and are making it known..
White collar crime is just bad boys playing monopoly.
Nothing to see here folks. Just move along.
Sometimes you gotta stop traffic to move ahead.
I was being facetious, Toynbee.
When you own the system, you make the rules up as you go along.
If you get caught, you buy your way out again.
[Removed]