Thursday, May 12, 2011
It is too much to expect that conviction of a Wall Street magnate will deter others from illegal activity, as prosecutors apparently hope. Where there is a chance to make money, someone will take it -- legally or not. One doesn't have to work in business for long to realize that situational ethics abound. Normally law-abiding citizens will bend -- and sometimes break -- when an appealing opportunity presents itself. When there is a great deal of money involved, it is harder still for one to stay on the right side of rules. Please don't misinterpret what is written here. There are many honest and law-abiding businesspeople on Wall Street and in business, but it only takes one to tar them all, and there will always be one. Humans aren't perfect, and there is no test that can be given to determine who will act ethically and who won't. So, the law has nabbed a billionaire today. There will be another tomorrow. And the day after that.