Just Not Right
posted in General |JUST NOT RIGHT
When I get together with my kids and their spouses, we talk about important matters – international events, wars, national politics, investing, taxes, real estate prices, natural disasters, crummy TV and even the weather and sports. When I offer my views, they even listen, sometimes. It isn't exactly lecturing – maybe closer to a bit of pontificating. They all understand.
Of late the conversation is dominated by the horrific events in the stock market where a handful of extremely powerful business leaders have systematically looted their companies and destroyed the lives of thousands of investors and employes. Such words as fraud, corruption, greed, abuse of power, misrepresentation,etc., aren't good enough. It is theft – just plain theft – of corporate funds and the savings and investments of people who placed their faith in an honest system.
Now, my kids are not bomb-throwing left wingers. Two are self employed, one is employed in corporate America and the other is in the Public sector. They save their money and invest carefully. They are conservative and believe in the free enterprise system. Actually, one still claims to be a liberal but I think he is wavering. All of them see nothing wrong with the profit motive and the desire to sell goods and services for a fair profit. But when it comes to the looting and fraud by the leaders of Enron, Global Crossing, Adelphia, Tyco, Worldcom, etc., they say “That just isn't right”. To see these guys hang onto hundreds of millions of dollars and buy/build ungodly mansions while the Companies are in Chapter 11 bankruptcy just isn't right. I agree. It isn't.
And these young adults are smart enough to see the handwriting on the wall. Sure, these big guys will be investigated and we will see the whole gamut of escape techniques – deny, deny, deny – delay, delay, delay, take the 5th as often as needed, supress information and evidence, delay some more, change lawyers a couple of times,and then as a last resort plea bargain and walk away free with a huge bundle of cash. And looking over their shoulders saying, “I did nothing wrong”, and “I didn't know”.
Maybe the new Federal legistlation will fix the problem, but I am skeptical. Political contributions are likely to be the deciding factor. What is the old saying?, “Anything worth doing is worth doing for money”.
Our “civilized ” society banned vigilante justice a long time ago. But I am re-thinking that one. Somehow, our “civilized” justice system just isn't up to the task of getting an appropriate remedy for the injustices at hand. I have not been personally affected by the misdeeds of these arrogant and ultimately corrupt men, but if I were, I don't think that “doing nothing” would rank very high on my list of options.