share.triangle.com - Is honesty for suckers? - Comments

Honesty

larrybob — Tue, 23 Dec 2008 15:17:31 -0500

Your key question is “Whatever happened to honesty and integrity?” “Caveat Emptor” is a warning phrase that has been around for over a thousand years. “Buyer Beware” is as pertinent today as it was in the time of Julius Caesar. Americans always had to be on guard in business deals. But after the corporate and stock swindles of the late 1920s, the federal government stepped in and initiated a series of laws that drastically curtailed the kind of dishonesty and greed rampant once again throughout the business world. Conservative business ideas of the 1920s resurfaced under Reagan and Bush. If people are ripped off by false claims, it is their fault, say conservatives, and the federal government should not protect people who won’t protect themselves. Remember Enron. Conservatives blamed the victims rather than those who perpetrated the debacle.

Honesty and integrity will return when the American people reject the conservative ideas of Reagan and Bush and return to the liberal values of the Franklin Roosevelt Era.

Why Do Americans Distrust Government?

BillB1 — Sun, 21 Dec 2008 07:28:26 -0500

Why Do Americans Distrust U.S. Government?

Why does government contribute to the public's distrust by making obviously false Statements, when there are far thornier issues to debate? Well, one might be kind and say that their heart is in the right place, and that "they don't want us to worry". However, Americans are made of sterner stuff, and perhaps the tendency to report "untruths" is but a small part of the insidiously pervasive problem that now seems to affect our Government, Economy, and Financial System. Telling 'little lies" seems to have led to much larger "lies" of far reaching consequences, of which America's current distrust of Government is but a symptom, or if you like, simply a measurement of results, which by all standards are horrible. Foreign Governments believe that you can "buy" American Government. Americans, however, quite simply, do not Trust the U.S. Government System anymore.

Failure to be truthful and honest is the number one reason for Lack of Trust in any society. Trust and Confidence is at all time lows in America and for America. Why is this? And what is the result.

A good example is the Government reported unemployment statistics. The government "adjusts" them, leaving out countable populations. They report current unemployment to be in the 7% Range. However, real Unemployment is 12.5% and climbing according to CNBC's Steve Liesman, Martin Feldstein (former head of NBER), Merrill Lynch Economists, and even Capital Investment Experts like Wilbur Ross. These are folks who not only don't have a need to lie, but are considered experts in their field, not just some group of "academic or financial industry paid 'me too'" reporters of government summary statistics. However, this is but one example.

Some would say that it's really "Wall Street" and the "Investment Banks" who have destroyed the image of Integrity and Honesty in U.S. Business Practices. Others would say that Harvard and Princeton Graduates led the way to Investment Banks and Hedge Fund scams who have systematically "raped" America's economy for the last Decade. Others would say that the SEC fell down on the job by allowing Investment Bankers to create instruments of infinite leverage and infinite risk (Capital Rule Change, 2004), or their proclivity to allow "Naked Short Selling" so that Arbs and Hedge Funds can milk the American Public with increased Volatility and Instability in the Markets. Others would point to Congress, who had the trust to oversee the rule of Law to regulate these events. All statements are true and all causes for America's distrust and disgust. However of all, Government's failure to either do it's job and report and stand for the truth, is the underlying problem.

You see, the fact is that it's become easier to be a "dishonest politician" than one who "serves the public good". It's become easier for a banker or CEO to "take his/her just reward off the top, before paying the employee". It's become easier for Congress to command Earmarks and Pork than it is to "represent all Americans, justly, fairly, and without regard to race, religion, gender, geographical representation, or political party".

Yes, America distrusts the U.S. Government System, because the U.S. Government System has LOST IT'S MORAL COMPASS. It no longer sets the standard for honesty or integrity. And, as a result of American Government having lost it's compass, America now faces one of the deepest Recessions since the Great Depression of the 1930's.

While Congress and the President have much to do to restore Trust and Confidence, do not down play the role of institutions such as Harvard, Princeton, Duke, and UNC, nor should you underestimate the value of local government and the governed themselves to be part of the solution instead of the causal factors of the problem. If you as an individual fail to hold them accountable, then you have failed yourself and the "American Dream".

America is Ripe for a Change. Now is the time for change, and that change is hardly satisfied by "paying off" one secular group, while ignoring the needs of all Americans or its partners. It's time for America to once again conduct itself with high standards of morality, honesty, and integrety. Everyone must contribute if all are to share the dream.

Honestly...

Java55 — Fri, 19 Dec 2008 20:15:59 -0500

This is a topic difficult to start up a dicussion as it can go in so many directions at once without a central binding theme except perhaps honesty itself in general.

In my opinion, as for crooks during declining economic times it appears they get desperate as well and this brings things to a head where they can get caught more easily. After the big economic shake-up is through perhaps all we will be left with are honest folks trying to make an honest living? We can only hope.

Is honesty for suckers?

robwaters7012 — Thu, 18 Dec 2008 11:00:29 -0500

Are you a chump if you play by the rules?

— Bernard Madoff, a supposed pillar of Wall Street, is accused of bilking investors out of billions of dollars in a huge Ponzi scheme.
— A worldwide recession sets in when it turns out that a vast subprime mortgage system was built on a foundation of fraud.
— Illinois Gov. Rod Blagojevich is accused of scheming to auction a Senate appointment to the highest bidder.
— Cheating is rampant in high schools and colleges.
— And in sports? The same deal. Doping scandals wreck the Tour de France and cloud the Olympics. Cheating, chemical and otherwise, pervades football and baseball.

Are you a chump if you play by the rules? — Bernard Madoff, a supposed pillar of Wall Street, is accused of bilking investors out…