Thursday, January 22, 2009

Ethics in America: What Happend?

I was reading an article about the ethics crisis in America reported by by Carey Gillam in Kansas City with additional reporting by Ed Stoddard in Dallas and editing by Eddie Evans.

The article discussed the two many things that has caused our economy to fall and our lives to just fall apart. I think you already know the first one. I keep mentioning it over and over in my blog entries. Yes, greed. According to the article, "greed and lack of accountability are blamed for the suffocating personal debt borne by millions of Americans and the toxic financial products that led to the decline of several U.S. banks and brokerages."

We have gone too far, ladies and gentlemen. Our entire economy has one basis and that is trust. Trust in our banks. Trust in our reserve system. Trust in our mortgages. Each one of these things requires trust. When you abuse that trust, the economy begins to fall apart. We can no longer trust our relationships with banks and the like. What has happened?

President Obama said it best during his inauguration address. He said, "Our economy is badly weakened, a consequence of greed and irresponsibility on the part of some, but also our collective failure to make hard choices and prepare the nation for a new age."

What new age is he talking about? As I write my blog entry, I have a stock ticker running on my PC to watch what the market is doing. If someone says the wrong thing or a scandal is announced, the market reacts with lightning speed. I have seen stocks drop a large part of its value with hours due to issues. If we have no trust in our economy, do you honestly believe that it will rebound? If we continue to be greedy, do you honestly believe that it will rebound? I think we all know the answers to these two questions.

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