“...We should be alarmed that corporate wrongdoing has come to be seen as such a routine occurrence. Capitalism cannot function without trust. As the Nobel laureate Kenneth Arrow observed, “Virtually every commercial transaction has within itself an element of trust.”…”
The conservative world is coming unglued. Once upon a time, just a few short years ago, conservatives prided themselves on their ethics and honesty. That was before the era of Mitt Romney, when all that matters is winning. It doesn’t matter how badly you lie, steal, cheat, and destroy, as long as you win! It’s the capitalist thing to do.
Democrats for Sale is touching on what is going to be so nasty, it is eventually going to destroy the GOP. In order to prop up a completely flawed and utterly contemptible excuse for a candidate, let alone a human being, the GOP and the so-called conservative punditry behind him such as Rush Limbaugh, Laura Ingraham, Sean Hannity, Michael Medved, and the like must bend themselves into pretzels. Like I told a friend, provable FACTS don’t matter, just “TRUTH” which can be anything a person wants it to be.
“…When you take off the blinders you realize this is an honest proposal and the comments coming out of Romney Republican leaders that this will be a huge tax hike on small business is a LIE! The only small business owners affected earn over $250,000 a year and anything over the $250,000 will be taxed at the Clinton tax level which Romney praised yesterday. That amounts to 3.3% of small business owners a far cry from most small business will get a tax hike being touted by the Romney Republicans. BTW someone forgot to tell him that Clinton raised taxes not lowered them. Obama has signed laws that lowered taxes and fees 17 times during his Presidency. You don’t hear that out of the Romney Republicans that accuse him of being the biggest liberal tax and spend President ever. It is simply not true. When Obama has a plan to cut Government, the Republican House tosses it out right away.
President Reagan worked with then Speaker of the House Tip O’Neill from MA to get bills passed that would help all Americans not just the wealthy. Reagan was about helping those who needed help not some fat cat Wall Street types who could care less about anything but their bottom line and how much richer they can become who Romney favors who seem to all be wealthy white guys like the Koch Brothers.
It seems that the bought and paid for Romney along with some Republicans who are speaking out are more worried about the rich getting a tax hike when the vast majority of jobs are created by small business not the wealthy who for the most part have sent jobs overseas including Romney when he was head of Bain. Guess he is now using the Democrat tactic of accusing your opponent of what you are doing even if it is not true.
When Rick Santorum said that Romney was the worst person in America to be the Republican nominee, he wasn’t kidding. He was 100% correct. Everyday you understand even more how right he was….”
The other day, The Pink Flamingo was talking to a small business owner who was sick of it all. “You are right. People who are successful in business are a bunch of lying crooks!” She continued, “I thought this person was my friend. He lied to me, in order to make more money.”
And, that’s the way it is in the good old US of A. Ethics are something for the other guy. We’re now living in a world where conservatives must act like liberals to get ahead. Nothing is wrong with lying, cheating, or even stealing – as long as you win! It’s the capitalist thing to do.
Matthew Yglesias wrote:
“...But when you get it into people’s heads that in their business life they have a moral obligation to not leave any money on the table, that web of norms that holds society together starts to fray. Instead of thinking that getting rich through honest business dealings is a sign of virtue, you get the attitude that getting rich by any means necessary is a sign of virtue. And if everybody’s doing it, you have no choice but to fight fire with fire….”
Before you once again start the lament that The Pink Flamingo is becoming socialist, let me state, up front, that I owned a small business for five years. I QUIT. You want to know why I quit? Because of other business owners who were nothing but a bunch of lying, cheating jerks. I paid off my start-up loan several years early and locked the doors, never to return. Never again, will I even consider going into business in this country.
“...In a survey of 500 senior executives in the United States and the UK, 26 percent of respondents said they had observed or had firsthand knowledge of wrongdoing in the workplace, while 24 percent said they believed financial services professionals may need to engage in unethical or illegal conduct to be successful.
Sixteen percent of respondents said they would commit insider trading if they could get away with it, according to Labaton Sucharow. And 30 percent said their compensation plans created pressure to compromise ethical standards or violate the law.
“When misconduct is common and accepted by financial services professionals, the integrity of our entire financial system is at risk,” Jordan Thomas, partner and chair of Labaton Sucharow’s whistleblower representation practice, said in a statement….”
At least we now know why Mitt Romney is able to get away with the things he is getting away with: lying and cheating to get the nomination. He is simply a reflection of the corrupt world from which he came. Has the nation become so corrupt that no one in the conservative world even thinks anything is amiss over his behavior, or must the GOP lie to cover up his corruption.
For the most part, the average American in a small business is as honest as the day is long. BUT, when you start getting into the corporate world, it is another story. I have been there, done that, and have the bruises to show for it. When I opened the doors of my shop, I was prepared for undercutting of prices. I knew retail was a dog eat cat world where you survived by a slim margin. I’d spent years in retail. I knew marketing. I knew how the world worked. I know that the brightest promotional ideas always win. I’m good at promotion. Build a better mouse-trap and the world is at your door. That is exactly what I did.
Nothing breeds good old corruption like success. I was succeeding, wildly. The first indication that all was not sweetness and light was over some wonderful throw-blankets I sold. The two guys who brought them in for me to sell were the grandsons of a an old mill owner. They were trying to revive his weaving business and provide jobs for people in the area. I was their first retail customer.
They knew their product and knew how to keep the prices low. I was buying from them at anywhere from $15-25 a blanket and doubling the price. Everyone was happy. I couldn’t keep them in stock. Then, one day, people stopped buying them. “Oh, we can get them for less at Walmart.” I went to Walmart and discovered they were selling the very same blankets, retail, for what I was purchasing them at wholesale.
It’s like this…. you know that old family friend who was an assistant manager at Walmart? She would come out and help my mother around the shop. She managed to go through my Rolodex and get the names of the guys who were selling them to me. They were given an offer they couldn’t refuse. Six months later, Walmart stole their designs, had them reproduced in China, cheaper, and the two men lost everything.
The same woman did it to me with picture frames, and certain other items I’d managed to find that no one else was selling.
Sure, it was good business, for Walmart. Two families were ruined. About 20 people lost their jobs, and I learned that you can’t trust anyone who works for Walmart. I know, my good conservative, Walmart loving readers are going to say I am simply complaining because I lost.
I don’t mind competition. I loath the cheating and corruption. Walmart is utterly corrupt. Anyone who says it is not is lying to themselves and the American people.
But – it wasn’t just Walmart.
I was selling another product, selling cases and cases of a certain gourmet item. We couldn’t keep it on the shelf. Then, one day, I couldn’t get any more of the product. No one was buying them. It seems a good customer decided to go into business herself. She stole my ideas, products, and then told my vendors that I had gone out of business.
The Pink Flamingo has just discovered a wonderful business opportunity. I could invest about $25,000 and make good money at it. Am I? Are you out of your fracking mind? NEVER AGAIN… never ever ever ever ever will I go into business. What the government rules, regulations and taxes don’t destroy, your fellow business owners finish off for you.
I thought it was just me, then I discovered that I’m not alone in my dismay. It looks like business in this country is terribly corrupt.
The real problem here is that provable fact is a total and complete bitch.
“…The most pointed evidence that breaking the rules has become standard behavior in the corporate world is how routine the wrongdoing seems to its participants. “Dude. I owe you big time!… I’m opening a bottle of Bollinger,” e-mailed one Barclays trader to a colleague for fiddling with the rate and improving the apparent profit of his derivatives book.
It’s difficult to know why corruption may be spreading. But there are a few plausible explanations. From globalization to rising income inequality to the growing role of corporate money in political campaigns, political and economic dynamics may have increased both the scope of corporate wrongdoing and the incentives for business executives to bend, or break, the rules.
Just consider the scale of recent wrongdoing. Libor is one of the most important rates in the economy. It determines the return on the savings of millions of people, as well as the rate they pay on their mortgage and car loans. It is the benchmark for hundreds of trillions of dollars worth of financial contracts.
Bigger markets allow bigger frauds. Bigger companies, with more complex balance sheets, have more places to hide them. And banks, when they get big enough that no government will let them fail, have the biggest incentive of all. A 20-year-old study by the economists Paul Romer and George Akerlof pointed out that the most lucrative strategy for executives at too-big-to-fail banks would be to loot them to pay themselves vast rewards — knowing full well that the government would save them from bankruptcy.
Globalization can encourage corruption, as companies compete tooth and claw for new markets. And the furious rush of corporate cash into the political process — which differs from bribery in that companies pay politicians to change laws rather than bureaucrats to ignore them — is unlikely to foment ethical behavior….”
You know, the conservative punditry world may just be correct. Mitt Romney is the right man for the job, today. In a country where business is increasingly corrupt, unethical, and doesn’t really give a damn about anything but making a profit, he’s their guy. This sure doesn’t say much for the right, does it?
The GOP is falling right into line. If just half the stories The Pink Flamingo is hearing are true, then Mitt Romney is the most corrupt and unethical candidate we’ve ever fielded. He’s something out of a science fiction nightmare scenario. Let’s be quite honest here. If what I’m hearing about Florida is true….? What if the primary in Florida was so cooked for Romney to win that he literally cheated Newt Gingrich out of either a win or a very close second? It would have changed the entire dynamics of the entire primary race. It is entirely possible that our nominee would have either been Newt Gingrich or Rick Santorum.
What happens when the GOP nominates a candidate who literally stole the primary season from his opponents?
Does anyone even give a damn?
When it reaches the point where all that matters is the right’s hatred of Barack Obama to the point where they will literally lie, cheat, and steal, just to defeat him, then they have become worse than Obama.