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corporate responsibility
« Previous EntriesShould you hire a professional ethics trainer?
Monday, November 10th, 2008Most executives acknowledge that it’s a good idea to talk about ethics with their employees from time to time, but they may be reluctant to bring in a professional ethics trainer. It costs money to hire outside speakers, and a lot of managers think they can do ethics training just as well as a professional can. [...]
Is it ethical for other industries to lobby for Wall Street bailout funds?
Thursday, October 30th, 2008Now that the $700 billion that Congress and the White House approved to bail out Wall Street is officially available for distribution, it’s probably not surprising that other industries are coming forward, hat in outstretched hand, to ask for a piece of the pie. Life insurance companies, auto industry representatives, and almost anybody else who can [...]
$700 billion for the bailout, but NOTHING for enforcement?
Thursday, October 23rd, 2008NPR reported this morning that the FBI has begun investigating the financial crisis on Wall Street, and has already started uncovering instances of subprime mortgage lending fraud. That’s no surprise, because we already know that loans were being made to homeowners who couldn’t possibly afford to pay them. The good news is that the FBI is bringing [...]
USA Today Explains Why Wall Street CEOs Haven’t Apologized
Wednesday, October 22nd, 2008USA Today’s Del Jones has published an article speculating about why Wall Street CEOs have failed to apologize for the financial crisis gripping the nation. Jones has several theories. First, there’s enough blame to go around between the government and Wall Street to allow CEOs to disclaim responsibility for the mess. Second, both CEOs and [...]
Predatory lending practices take a human toll
Monday, October 6th, 2008AOL News reported yesterday that a ninety-year-old woman in Akron, Ohio shot herself in the chest as sheriff’s deputies attempted to evict her from the home where she’s lived for almost thirty years. According to AOL, Addie Polk became the sole owner of her home when her husband died in 1995. Two years later, she [...]
Was SEC Chair Christopher Cox right to dismiss self-regulation?
Thursday, October 2nd, 2008As the subprime mortgage/credit crisis continues to play out, the second-guessing has begun. The New York Times recently quoted Securities and Exchange Commission Chairman Christopher Cox as blaming the SEC’s “voluntary regulation” program for the failure. To grossly oversimplify the program, investment banks were invited, but not required, to submit to the SEC’s supervision, opting [...]
How ethical is the pending Wall Street bailout?
Wednesday, September 24th, 2008This afternoon I had the opportunity to watch the Senate hearings on the proposed Wall Street bailout. It’s not surprising that legislators on both sides of the aisle are revolting against the current proposal to authorize the Department of the Treasury to buy out approximately $700 billion dollars of bad debt. Many issues on the [...]
Referee Hochuli may have missed the call, but it was the NFL that fumbled
Sunday, September 21st, 2008In the interests of taking a break from the melodrama on Wall Street, let’s turn to the world of professional sports, where another drama is unfolding. A week ago, referee Ed Hochuli blew a call in a critical game. Hochuli’s error cost the Chargers a victory and, with the amount of money at stake in pro football, [...]
Will the next President crack down on predatory lenders?
Friday, September 19th, 2008The drama in U.S. financial markets continues, with the Treasury Department, SEC and Federal Reserve banding together to shore up the financial markets. The plan they’ve cobbled together – guaranteeing money market funds, temporarily banning short-selling of certain stocks and, of course, bailing out Fannie Mae, Freddie Mac, and AIG - is a bold one. I hope [...]
Was it ethical for Simon & Schuster to publish “Obama Nation”?
Monday, August 25th, 2008With the 2008 election nearing, it’s inevitable that voters’ interest in the candidates is increasing and the incentive to attack is growing on both sides. The latest attack on presumptive Democratic nominee Barack Obama comes in the form of a book by conservative Jerome Corsi titled Obama Nation that portrays Senator Obama in far from flattering [...]
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