Monday, November 24, 2008

Why values are important

Yesterday, I was reading an interesting article about the meltdown of Wall Street. You can read it here. This article gives you an insider's view of what was happening in the Wall Street, and how an unsuspecting common man, was being taken for a ride.  

The business honchos at the Wall Street, who are the engineers of this financial crisis, do not have any moral standards. They knew exactly what they were doing, carving out AAA securities from shit. Even the rating agencies, that are supposed to be independent in their analysis, were accomplices. And now, these companies, the Citibanks, the Goldmans, and the lot are asking for a bailout from the government. Looks like a grand plan of robbing the taxpayer.

This is where values are important. I was listening to an all-hands call, and one of our VPs said that creating profit and more and more profit should NOT be the sole motto of a company. The motto should be to make a company a great place to work, a model company, a company loved by the community where it exists. Had this thought even crossed the minds of the engineers of financial crisis, things probably could have been different.


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