Finance

“It’s A Wonderful Life” Ethics, Part I (of 3)

/ Jack Marshall / 7 Comments

“It’s A Wonderful Life” made its now traditional holiday season appearance on network television, and naturally, I watched it. The movie is one of the great ethics movies of all time, as well as being one of the great American movies of all time, perhaps director Frank Capra’s masterpiece. One of the markers of a classic film is how one can find new things in it upon every viewing, and that is certainly true of “It’s A Wonderful Life.” I was struck this time around by how many ethics issues are raised in the screenplay, some, no doubt, unintentionally.

1. “If It’s About Ethics, God Must Be Involved”

The movie begins in heaven, represented by twinkling stars. There is no way around this, as divine intervention isat the core of the fantasy; heaven and angels were big in Hollywood in the Forties. Nevertheless, the framing of the tale advances the anti-ethical idea, central to many religions, that good behavior on earth will be rewarded in the hereafter, bolstering the theory that without God and eternal rewards, doing good is pointless.

We are introduced to George Bailey, who, we are told, is in trouble and has prayed for help. He’s going to get it, too, or at least the heavenly authorities will make the effort. They are assigning an Angel 2nd Class, Clarence Oddbody, to the job. He is, we learn later, something of a second rate angel as well as a 2nd Class one, so it is interesting that whether or not George is in fact saved will be entrusted to less than heaven’s best. Some lack of commitment, there—then again, George says he’s “not a praying man.” This will teach him—sub-par service! Continue reading →

The Selfish, the Irresponsible and the Cowardly, Pushing the US to Fiscal Disaster

/ Jack Marshall / 21 Comments

Greek food, America! Better get used to it, becuase we'll have to swallow what the Greeks are swallowing we can't find some leaders with courage.

Failure is now all but ensured by the so-called Super Committee, a gimmick designed by our leadership-averse President and his pathetically inept legislative counterparts in Congress (both parties, now) to provide themselves with bi-partisan political cover when they again ducked their obligation to solve the nation’s fiscal mess. For those of you who, like me, have wondered how Greece and Italy could reach their current miserable status when the fiscal disaster now facing them was obvious years ago, the answer is plain. They tolerated a fatal combination of selfish interest groups, pampered and lazy voters, and elected leaders who distorted, dithered and ducked their duties, until it was too late. And that is exactly what happening here.

There is no need to waste invective on the committee itself, which is beneath contempt. What they have come to was predictable, and I, along with many others, predicted it. But the predictions still did not have to come true, if, for example, these hostages to toxic ideologies really cared about the country as much as keeping the power to ruin it, or if President Obama hadn’t calculated that his best chances of re-election would be to let the committee founder with him being able to claim no role in its betrayal. rather than to do his job—leading–and try to make sure it succeeded at the risk of failing himself…again.

Betrayal is the word that I use, and that is what it is. Continue reading →

My 15 Hollywood Cures For A Paterno-Penn State-Sandusky Hangover, Part 2

/ Jack Marshall / 10 Comments

Part 1 listed the first seven of my 15 cinematic remedies for Penn State-inspired ethics ennui. Part 2 includes the final eight. Please don’t take the order too seriously; I could have shuffled the whole batch. I also tried to include as many genres as possible. When it comes to ethics, good lists can be compiled using all Westerns, all sports movies, all war movies, courtroom drama or science fiction. Here we go…

8. Spartacus (196o)

The raw history is inspiring enough: an escaped gladiator led an army of slaves to multiple victories over the Roman legions in one of the greatest underdog triumphs ever recorded. Stanley Kubrick’s sword-and-sandal classic has many inspiring sequences, none more so than the moment when Spartacus’s defeated army chooses death rather than to allow him to identify himself to their Roman captors (“I am Spartacus!”)

Ethical issues highlighted: Liberty, slavery, sacrifice, trust, politics, courage, determination, the duty to resist abusive power, revolution, love, loyalty.

Favorite quote: “When a free man dies, he loses the pleasure of life. A slave loses his pain. Death is the only freedom a slave knows. That’s why he’s not afraid of it. That’s why we’ll win.” [Spartacus (Kirk Douglas)] Continue reading →

I Wonder…What Would It Take To Get Fired From the SEC?

/ Jack Marshall / 3 Comments

Keep up the way you’re going, guys. You’ll drive me to “Occupy D.C.” yet.

Do you think The Donald would be willing to run the SEC? At least he knows how to fire someone.

Eight Security and Exchange Commission employees were demoted, docked pay, suspended or otherwise disciplined for their role in the agency’s rank incompetence that allowed Bernard Madoff to steal billions of dollars and destroy lives and charities despite the timely warning of a persistent whistleblower, and more red flags than a bullfight. Yet despite mismanagement of epic and disgraceful proportions, the SEC couldn’t bring itself to fire anyone.

This is the state of accountability in today’s America. Run a corporation into the ground, lose the jobs of thousands, and take a mega-million dollar parting gift. Accept a bribe while you are serving as a State Senator, and not only keep your job, but get acquitted by a jury on the theory that you are too stupid to understand that what you were doing was a crime. Now the SEC’s response to an almost unimaginable breach of diligence in investment oversight by its staff doesn’t involve getting rid of a single one of the individuals responsible—even the individual deemed the most culpable, whose termination was recommended by the agency’s lawyers.

Why, you ask? Continue reading →

Unethical Headline of the Day: KABC-TV, Los Angeles

/ Jack Marshall / 3 Comments

The headline: “Are insurance companies spying on your Facebook page?”

Why it’s unethical:

1.     The device of asking a question that raises suspicion of wrongdoing when there is none and no indication that it is occurring is inherently unfair and unethical.

2.     The story never discusses “spying” at all. Examining the public area of a Facebook page—and that is all that is described in the article—is no more spying than reading this blog is spying. Continue reading →

Do the right thing? Naaaa.

/ Jack Marshall / 38 Comments

Business executives regard this as a gross and unfair exaggeration. It's time for them to prove it.

Nabors Industries Ltd. (NBR), the world’s largest oil-drilling companies, will pay outgoing CEO Gene Isenberg $100 million in cash as a result of provisions in Isenberg’s employment agreement. Isenberg is 81, and has led Nabors since 1987.

Jeff Dietert, an analyst at Simmons & Co., an energy investment bank in Houston, wrote his clients yesterday that “We believe the compensation to Mr. Isenberg is excessive,” noting that handing over $100 million payment “for what we view as essentially retiring will be offensive to some.”

May be excessive? Offensive to some?

Here’s what I would hope would be going through Mr. Isenberg’s mind about now: Continue reading →

Occupy Wall Street: “This Is What We Want!” Finally! Oh…THAT.

/ Jack Marshall / 41 Comments

Time to stop wasting our time.

After more than a month of demonstrations that have cost millions, deflected local governments from vital matters, inconvenienced and clogged cities across the country, invigorated anarchists, communists, fascists, free-loaders and loonies, suckered desperate Democrats into declaring common cause with a mob, and exposed the worst of Left-wing punditry as the embarrassing demagoguery society that it is…and after well-intentioned demonstrators have been robbed, arrested, and injured…the Occupy” movement finally is finally ready to declare what it wants.

It’s about time. Large-scale demonstrations to express “frustration” are the advocacy equivalent of humming, or maybe belching: speak clearly, or get off the street.  On October 9, Ethics Alarms described the Occupy Wall Street demonstration, in the context of pointing out the friendly mainstream media embrace of a left-ish, anti-capitalist mob in contrast to its open contempt for the peaceful, focused and conservative Tea Party, as “incoherently chanting anarchists, radicals and unemployed youths…advocating nothing constructive whatsoever.” Many of the site’s distinguished readers objected to that characterization, with one, blogger Jeff Field,  promising to produce an articulation of what the protest really wants to accomplish. Today he fulfilled that promise by sending me a statement by an “Occupy” supporting group, with his introduction, “This is what we want.” I am genuinely grateful to Jeff…especially since it shows that I was correct in my assessment, however harsh. Continue reading →

Robert Samuelson’s Brilliant, Ethical, Hopeless Proposal

/ Jack Marshall / 10 Comments

Great idea, Robert. Too bad it requires courage and honesty.

I don’t generally regurgitate other writers’ essays, but in this case I am making an exception. Robert Samuelson, rare among op-ed columnists in that he is a truth-teller without party bias, has a column today that proposes a joint act of integrity and heroism by Barack Obama’s immediate predecessors. His idea, if implemented, could have a major impact on breaking the impasse in Congress that threatens the nation’s future. It could be accomplished without bureaucratic red tape, and is profoundly responsible and ethical. And it would burnish the legacies of two former presidents who could use some burnishing.

Will it happen? Never. That’s the disturbing part. Continue reading →

Comment of the Day: “Dear AIG: I’m Not Going To Be Able To Keep Criticizing Occupy Wall Street For Destructive Class Warfare If You Act Like This”

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Michael, who now leads the field in Comments of the Day, picks up another with his commentary on my post about AIG’s continuing habit of living large on taxpayer funds. Here are his reflections on the post  Dear AIG: I’m Not Going To Be Able To Keep Criticizing “Occupy Wall Street” For Destructive Class Warfare If You Act Like This:

“A company can allow any expenses they want. That being said, since they are now majority owned by the US government, we need to ask who is giving the go ahead to things like this? Why haven’t they been fired? The Wall Street culture is so entitled and so out of touch with the reality of the common Americans that it is almost beyond belief.

“The Occupy Wall Street group could have a lot of legitimate gripes, but they don’t seem to have anyone with half a brain in the group. Instead of hearing “I want them to take the money from rich people and give it to me” form a college aged girl wearing $500 worth of clothes or “I have gone to every protest I can find for the last 40 years” from the aging hippies, why not try one of the following angles: Continue reading →

Unethical Quote of the Week: Rep. Jesse Jackson, Jr.

/ Jack Marshall / 4 Comments

“I hope the President continues to exercise extraordinary constitutional means, based on the history of Congresses that have been in rebellion in the past. He’s looking administratively for ways to advance the causes of the American people, because this Congress is completely dysfunctional. President Obama tends to idealize — and rightfully so  — Abraham Lincoln, who looked at states in rebellion and he made a judgment that the government of the United States, while the states are in rebellion, still had an obligation to function…On several occasions now, we’ve seen … the Congress is in rebellion, determined, as Abraham Lincoln said, to wreck or ruin at all costs. I believe … in the direct hiring of 15 million unemployed Americans at $40,000 a head, some more than $40,000, some less than $40,000 — that’s a $600 billion stimulus. It could be a five-year program. For another $104 billion, we bailout all of the states … for another $100 billion, we bailout all of the cities.”

—– Rep. Jesse Jackson, Jr. (D-Ill.), telling the Daily Caller how he thinks unemployment should be addressed. Jackson inexplicably left out the part where Superman gives President Obama a magic lamp, and the President uses his three wishes to turn all his political opponents into beef jerky, banish the national debt, and make money grow from beans that get delivered to every American daily by a suddenly solvent postal service, transported around the country in Santa’s sleigh. Continue reading →