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Posted by Don on June 17, 2008, 11:24 pm
> That has rarely stopped corporate America. If their lawyers say they
> can hide it, get away with it, postpone it until you are retired, or
> you have bought enough congress-critters to write a new law getting you
> off the hook or even get more corporate welfare- Go for it.
True. Ethics is not a high priority in corporate America. A small
investor doing his or her best to plan for the future should not be
held to higher standards than are applied to business in general, big
or little. As far as I am concerned, financial planning for an
individual should involve taking advantage of all the tax loopholes and
using whatever legal methods can be expected to turn a profit, just as
is done by corporations.
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Posted by Douglas Johnson on June 18, 2008, 3:56 pm
>
>> That has rarely stopped corporate America. If their lawyers say they
>> can hide it, get away with it, postpone it until you are retired, or
>> you have bought enough congress-critters to write a new law getting you
>> off the hook or even get more corporate welfare- Go for it.
>
>True. Ethics is not a high priority in corporate America.
I think you are painting with far too broad a brush. I have worked for some
very ethical corporations. Ethics was and is a high priority for them.
In my mind, corporations are no more or less ethical than the people in them. So
corporations are ethical in about the same percentage and degree as people.
It is not hard to find examples of unethical behavior by either. That's what
makes the news. Everyday ethical behavior rarely gets much publicity.
-- Doug
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Posted by Don on June 18, 2008, 5:33 pm
>
> In my mind, corporations are no more or less ethical than the people in
> them. So
> corporations are ethical in about the same percentage and degree as people.
>
> It is not hard to find examples of unethical behavior by either. That's what
> makes the news. Everyday ethical behavior rarely gets much publicity.
No argument from me about that. Of course, what is "ethical" means
different things to different people. I am saying that from the
standpoint of financial planning, investing, tax paying, and making
various financial plans, individuals and corporations should be judged
by the same standards.
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Posted by Elle on June 18, 2008, 8:18 pm
> Everyday ethical behavior rarely gets much publicity.
I guess we could dispute "everyday," but whistle blowers are
almost by definition ethical. They often get an enormous
amount of publicity. From the CIA's Valerie Plame (and
husband; Iraq etc. WMD), to Enron's Sherron Watkins, to the
FBI's Coleen Rowley (Sept. 11 intelligence bungled), to the
Naval Academy's Gwen Dreyer (handcuffed to a urinal), to
NYPD's Robert Leuci ("Prince of the City"). Problem is, they
are generally washed up after helping set things straight at
XYZ organization. Though perhaps it is cultural, and this
can change, especially within individual professions. At
least, recent studies on medical doctors who admit fault,
apologize sincerely, offer appropriate compensation for
actual harm and explain what happened to the patient are far
less likely to be sued. Maybe not unlike that recent report
we had here of the financial advisor who made a tax advising
mistake, admitted it, apologized, and offered some
compensation?
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Posted by jIM on June 14, 2008, 6:26 am
>
> Walking away doesn't discharge your debt.
eventually a poor credit score would catch up with person in 7-10-15
years... assuming they needed credit again.
My take is that if a person needs credit twice or three times, they
will usually need it over and over and over.
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