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Corporate Morality

   Posted by: chris   in Fish Talk

Corporate Morality

 

Someone should tell CNBC’s Erin Burnett that for morality to be accepted as a required ethical standard within society that it needs to be accepted equally by banks, corporations and humans.

To ask a homeowner for their moralistic viewpoint on paying or not paying a mortgage is fine as long as it is balanced against the banks “moral” code in financial matters. It is a two way street, there is no borrower without a lender, there is no credit without debt.

I wonder what Bank of America’s moral viewpoint in charging $35 to a “customer” repeat “customer” for a 1 cent overdraft is.

Anyway it serves me right for watching CNBC’s version of the recipe for success in America. Remember that anyone who followed their rhetoric lost their shirt.

The banks received food stamps in the form of tarp and believe me from Erin’s viewpoint that was most probably a good and necessary thing. The homeowners are left to stew in a soup of their own making.

It amazes me how easy it is to alter history. I remember a time when we went into Iraq to face the threat of weapons of mass destruction head on. When no WMD’s where found we went to Iraq to liberate the Iraqi people.

So now we have an economy that is clinging to a piece of driftwood in a turbulent ocean storm and the new version of the story seems to be that the homeowners got both themselves and the unfortunate banks into this mess. The banks are blameless, the banks are baled out and the homeowners are only getting what they deserve.

I have absolutely no problem with foreclosure but I really think that all streets should be two way and if a homeowner pays for his/her indiscretion with the loss of a home then the banks that enabled this whole mess to come into being should be equally punished, and not as it turns out actually rewarded at the taxpayers expense.

A last word on morality, morality is a constructed notion brought about to keep the plebs in their rightful place which is the gutter while their betters who like Leona Helmsley actually believed that taxes are for little people live off the fat of the land because they know that like Santa Claus morality is a foundationless threat.

 

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This entry was posted on Tuesday, July 14th, 2009 at 7:09 pm and is filed under Fish Talk. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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