Ethics and Finance: One But Not the Other

The Economist reports that while Financial industry executives champion the importance of ethical conduct, 53% also say that strict adherence to such codes would make career progression difficult.

Despite the massive fines leveled by the US government on the Financial Sector in the past months, there have been no criminal charges against anyone involved in the scandals nor is there any suggestion that there will be.

Money matters more to the Justice Department than personal accountability.

Apparently, it is better to appear ethical than be ethical.

The Emperor’s (as in the the US) wardrobe is thinning out.

http://www.economistinsights.com/analysis/crisis-culture

Consumption is consuming me,
The laissez hasn’t been fair to me,
A party for the sea is like a funeral for the beach,
And there’s a crooked line I don’t want to take the time to straighten,
Cause when you do you realise it’s the whole damn world that’s bent,

Here’s the mission: To go omniscient,
To run with scissors and skip the incision,
The truth? It’s got vision but it’s got no heart,
Keep shrugging on Atlas, while the market goes dark,

Everything goes in waves,
Grasshoppers are gonna party while the ants are going to save,
Some teams only want to play,
If they get to rig the game,
Shame,

Greed; One of the seven deadly sins,
Many gonna enter, few gonna win,
Always try to notify the next of kin,
Cause many gonna enter, few gonna win

Greed; One of the seven deadly sins,
Many gonna enter, few gonna win,
Always try to notify the next of kin,
Cause many gonna enter, few gonna win,

Good news is everybody gets to have an outlet,
But bad news is everybody gets to have an outlet,
I’ve been poor and I’ve been rich,
The first one stung but the second one itched,

The cash is just the rash,
Without the pleasure of the scratch,
You know? Until you’ve had yourself a hurricane,
You’re gonna fret, you’re gonna fret, you’re gonna fret, every raindrop,

Greed; One of the seven deadly sins,
Many gonna enter, few gonna win,
Always try to notify the next of kin,
Cause many gonna enter, few gonna win

Greed; One of the seven deadly sins,
Many gonna enter, few gonna win,
Always try to notify the next of kin,
Cause many gonna enter, few gonna win,

(Greed, Greed, Greed, Greed, Greed)

All my Gordon Gekkos and my Bernie Madoffs, I want to see you,
(Pop your white collars up! Pop your white collars up!)
Offshore accounts, tax havens, swimming pools, movie stars,
(Pop your white collars up! Pop your white collars up!)
Everybody! I want to see you,
(Pop your white collars up! Pop your white collars up!)
You know, very rarely is good art born in the board room,
(Pop your white collars up! Pop your white collars up!)
You remember that.

Greed; One of the seven deadly sins,
Many gonna enter, few gonna win,
Always try to notify the next of kin,
Cause many gonna enter, few gonna win

Greed; One of the seven deadly sins,
Many gonna enter, few gonna win,
Always try to notify the next of kin,
Cause many gonna enter, few gonna win.

Greed by Patrick Stump from SoulPunk (2011)