General Discussion
In reply to the discussion: The GOP is one of the most dire threats this country has ever faced [View all]JustAnotherGen
(38,045 posts)What you are proposing - but it makes a lot of sense.
See, I work for an "Evil Empire" wireless company. Prior to joining them in early 2006 - I held a variety of positions in marketing - in Telecommunications. One of thos positions was with The Glotanic aka Global Double Crossing aka Global Crossing.
I'm reading Chris Hayes book "Twilight of the Elites - America After Meritocracy" and he mentions GC along with Enron in the forward.
My first day, sitting in employee orientation I met up with colleagues I had not seen in four years. We all moved into higher profile decision making positions - and a lot of that has to do with ethics. Though certain segments of America and employees in another channel think we (wireless) are beyond evil . . .
What they don't have insight into is a general feeling of never this way pass again . . . Never cheat the pension, lie to the stock holders, lies to the FCC or lie to the SEC. There was no bailout for the tech bubble - and with a little decency we should never need one again. No more "trades" with other companies that look like "profit on the books". Poor form. Better to cut a line of business than lie to ourselves and the public that everything is AOK with that line of business. Oh - and the fines in place as a result of poor behavior were created as a response to the bubble bursting due to false profits.
My point - if people aren't going to jail for past behavior, then prevent future behavior by clear laws that state "the bottom line will be hit" if you play games now.
Will it completely stop a sociopath? Not likely - they will continue to exist. But it gives others in the organization wind at their back to stop the behavior before it begins. Or at the first inkling that something is up . . .
Right now - I have zero confidence that in my lifetime the finance industry will get it right. At 39 - I believe that for the rest of my life I will be subject to global economic security under constant threat because politicians operate out of fear that a bank president will stick heir tongue out at them.