Monday, October 06, 2008

His story of greed?

I just finished watching the movie/documentary "Enron: The Smartest Guys in the Room"... and I cannot but feel that history is repeating again... multiple fold...

Enron was not the result of misplaced ambition fueled by greed.. It was the embodiment of misplaced ambition fueled by greed.

Though I am sure not everyone who worked there (some 20000 employees) knew what was happening, I am absolutely sure 10% of them - at the least - knew about the wrong, unethical practices. And the remaining 90% would have had some inkling.. some sense of "things are not right here". After all, these were some very smart people.

And then, there was this bunch load of guys who went along with these fraudsters... all those analysts at investment banks, bankers from JP Morgan, Merill Lynch, Citibank, CSFB... the whole lot... the legal firms... Arthur Anderson, of course (the oldest accounting firm in the country that disappeared after Enron collapse)... THEY JUST JOINED IN THE FUN and made their bucks, as long as it lasted.

And now this mortgage crisis in tens of thousand times bigger a scale....History repeats... There is a whole army of crooks... and then some... who, in any sane mind, would have known - had they just stepped back for a moment... But they did not.... the stock market did not.... And now we have companies biting the dust....

Makes me think - that this whole economy is being fueled by this greed. Capitalism sounds like an euphemism. The air seems grained with this whole misplaced sense of accomplishment...

And I, a member of this economy, am an integral part of this corporate greed. And at the disadvantageous end of it... No golden parachutes... or silver... forget it - not even a parachute.... When will it be my turn to bite the dust?
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I see this guy who comes to my office in a Porsche 911... well.. I am sure he is not the only one... But when the company is in a bad shape... this guy comes around in a minimum $80,000 car...

Should I commend him for making his bucks before the market/company got hit... Or should I commend him for coming to work even after he made his money??!

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