RWCMom

Sure It’s Legal … But Is It Right?

" What you need is an MBA who can withstand the lure of easy money, not better ethics teachers."

Amen to this. As a CPA I am forced to take bienniel ethics classes that only a lawyer could love for all the inane rules that say everything but, do the right thing. Ethics cannot be legislated, they must come from within but first they must be put there by parents, teachers, friends you choose, groups you affiliate with and, most importantly in business, the management.

I did IRS corporate audits for many years and encountered both ethical and unethical CEOs. The CEO sets the tone for the company. This is not to say that ethical CEO's bent over backwards to pay proposed tax assessments but their tax departments treated us respectfully and their responses were thoughtful. Being Silicon Valley their compensation was generous (all CEO's have egos) but so was that of their employees down the line and rank and file shareholders truly "shared" in their wealth. Comps were generous but not flagrant.

I read proxy statements faithfully, vote "no" if the compensation package does not include all employees and sell the stock when the CEO and Bd of Directors get overly generous with themselves. I vote with my shares

The Virtue of the Republic

Yes, 20% down on mortgages (& car loans) is good but the bankers were too greedy to live with that so they come up with zero down, ARMs and anything else to part uneducated folks from their money. Perhaps if they would lend some of that money at 10% to credit card holders instead of 20%, the other 10% could be spent on real goods made by real Americans instead of lining the pockets of VISA. Quit making the Feds to be the bad guys; bankers do this to themselves and I am tired of hearing them cry wolf.