In
2002 I wrote about the “modern-day tyrants ” suggesting they might be the master
manipulators of Wall Street. In part I stated:
These modern day tyrants value short-term financial gratification more than anything else. Their actions are totally inconsistent with a sustainable world in which people are valued and life is affirmed. They create no real value in the world, certainly not in the way most of us think about adding value, such as an exchange of something for something else. Their sole purpose is to make a profit, and to do so with the least amount of capital as possible.
Fast forward six years to this past week...
The
other evening I was watching a segment of the movie “Pirates of the Caribbean” starring
Johnny Depp as Captain Jack Sparrow. In one scene Sparrow and a fellow pirate
make a toast, apparently one of the pirate codes - “Take what you can. Give
nothing back.” In light of the financial fiasco confronting the whole world
today, this seemed very timely for the consciousness (or lack of it) that has
been allowed to permeate our corporate environments in recent years.
We apparently learned nothing from the Enron, WorldCom, Arthur Andersen debacle earlier this decade. Nor from the savings and loan scandals of the 1980s. Or the many other indicators that predatory capitalism only works for a very few at the expense of the vast majority. Americans are most probably going to pay for all this maleficence.
If markets were truly free and unfettered, the
market fundamentalists might have a valid point. But those who manipulate the
market to their advantage cannot honestly justify that position when they themselves tilt
the playing field in their favor. This is not a free market but a skewed market that required some restraints.
Those
who have mastered this game – those who made fortunes while leaving the rest of
the world in ruins – have no conscience. They leave others to clean up after
them and slink off into the darkness with
their loot. They truly do subscribe to the pirates code: Take what you can. Give nothing back. This makes these dubious characters
the modern-day pirates, far worse than mere tyrants.
If
you happen to know any of these modern-day pirates and are keeping quiet about them out of
some distorted sense of loyalty I suggest you blow the whistle and do it now! It may prevent another bunch of greedy SOBs
from pillaging the public trough in another few years.
[please forward to
anyone you know who works in the financial services industry]