We gotta find harmony and balance in our lives before we kill each other and destroy the planet along with it.
Political/Education leader
No Downside to Greed
I am skeptical about the ability of individual CEOs to change the culture on Wall Street that led to the recent economic crisis. What would happen to the leader of a public company who announced that he or she was not focused on maximizing profits in the short run, but was concerned about strengthening the company for the long term? Millions of Americans who do not own stock in that company would praise the virtue of that CEO while his or her stockholders would scream bloody murder.
Right now it appears that the pursuit of greed has no downsides, except if you work for a company that has to plead for help from a government official who was formerly chairman of one of your company's competitors. The private-sector pressures on Wall Street business leaders are such that we are unlikely to see significant change in the business culture. Appropriate government intervention will be necessary to alter the conduct that has led to such disastrous economic results in our recent past.
@DAN1138, JFV123, JERKHOFF et al..
There is a time value to money but no time value to Law - the time value must be provided by Regulation.
Greed and Envy are two sides to the same coin if you will excuse the expression, but both are time valued: I do not envy Bernie Madoff as much as I once did.
Here's the deal: I hate Regulation as much as the next guy, but it is the only way to insure that all (human) plaintiffs are not rendered indigent before a finding of fact. It is only recently that Public Defenders in Texas were prohibited from napping during Capital Murder trials, so this Regulation as Social Conscience thing might be a bit hard to swallow. Too bad. Bringing the Law up to the speed of Money, Greed and Envy is the only rational approach.
Posted by: gannon_dick | September 21, 2009 7:34 PM
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