U.S. Society

The Amazing, Versatile and Unethical Goldman Sachs Code of Ethics

/ Jack Marshall / 6 Comments

Perhaps we all owe Goldman Sachs an apology. Everyone heaped outrage and ridicule the April spectacle of its executives going before the U.S. Senate and asserting under oath that they saw nothing at all unethical about intentionally selling “crappy” investment products to their trusting customers, then making money for their own firm by betting that the products would fail. Many were reminded of the tobacco executives, in the famous AP photo, all raising their hands to swear that they did not believe nicotine was addictive. After all, Goldman Sachs’s own website pledged openness, honesty, trustworthiness and integrity, saying,

“A critical part of running the marathon is acting consistently and playing a fair and honest game. ‘There’s only one thing we sell, and that’s trust.’ This applies to anything, but nowhere more than Investment Management. Clients trust us to do the right thing, and particularly when you’re in investment management and you’re appointed to manage clients’ money, they trust that you’re going to do it in a prudent manner. The worst thing you could do is breach that trust. We look for people who want to run the marathon, and who understand that trust fuels it.”

Now it seems that we were lacking a crucial document: the firm’s internal Code of Ethics, which Goldman Sachs recently made public. Under the provisions of this remarkable Code, what Goldman Sachs did to its clients wasn’t unethical at all; deceptive, conflicted, and unfair, yes…but not unethical, in the sense that it didn’t violate the Ethics Code itself. “Impossible!” you say? Ah, you underestimate the firm’s cleverness. Continue reading →

The Ethics of Helen Thomas Awards

/ Jack Marshall / 15 Comments

When does an honor start honoring the wrong values? This tricky ethical problem is now in the spotlight thanks to the sudden self-destruction of Helen Thomas, who blurted anti-Semitic sentiments to a Rabbi, on camera, in an impromptu interview.

There are journalism awards named after Thomas, including The Helen Thomas Award for Lifetime Achievement given by the Society for Professional Journalism. Now that Thomas has included among her life time achievements a demand that the Jews “get the hell out of Israel” and go back to Germany and Poland—you know: “where they belong,” what does her name on the award mean to future recipients? Is accepting it a tacit endorsement of her views? Or should individuals be assessed on the totality of their careers, and not solely identified with their inevitable missteps. no matter how reprehensible? The latter was a common theme of eulogizers at President Richard Nixon’s funeral. Continue reading →

Ethics Dunces: South Carolina Democrats, Voters and News Media

/ Jack Marshall / 3 Comments

Mystery man Alvin Greene upset a respectable, accomplished and well-known opponent in the Democratic primary that decided who would try to unseat South Carolina G.O.P. Senator Jim DeMint in November. Even before the vote, it was widely reported that Greene was unemployed, with no political experience. After the vote and the stunning results, it came to light that in 2009, the victorious Democratic Senatorial nominee asked a young college girl to look at some pornography he had downloaded, leading to an obscenity charge that is still pending. Embarrassed, chagrined and confused by the fact that their standard-bearer appears to be a goof or worse, Democrats are accusing everyone in sight, especially Greene and Republicans, convinced that there must have been a plot, a scam, anything to explain what happened without focusing blame where it belongs: on the Democratic candidates who couldn’t defeat Greene, and the South Carolina voters who elected him. Continue reading →

Breach of Duty: Hallmark Capitulates to the Race Card

/ Jack Marshall / 13 Comments

Every time an individual or a corporation meekly submits to the demands of  bullies, it harms the rest of society by giving that bully more power and credibility. It doesn’t matter if the bullies are jihad-minded Islamic extremists threatening the creators of “South Park,” an extortion-minded Congresswoman threatening NBC of dire consequences if it doesn’t start meeting her racial quotas, or a schoolyard bully intent on stealing lunch money. Give a bullies what they want, and they will continue to abuse their power until someone else does his or her ethical duty, which is to confront bullying and stop it. I call this “The Duty to Confront,” and it is a responsibility of citizenship and being a member of society. Corporations will hold symposiums and issue bold words about their commitment to good citizenship and corporate responsibility, but when it comes to a citizen’s duty to oppose bullies, they are worse than the meekest. weakest wimp in the school yard. Exhibit A:  the disgraceful example of Hallmark, which has capitulated to the N.A.A.C.P.’s most ridiculous and embarrassing accusation of racism yet, which is quite an accomplishment. Continue reading →

When An Ethical Parent Must Veto a Child’s Dream

/ Jack Marshall / 8 Comments

It looked grim for a while yesterday, when the media was reporting that the sailboat carryingAbby Sunderland, the 16-year old seeking to become the youngest person to circumnavigate the globe solo by sea, had been lost. Now it looks like she may be safe after all, as a rescue of her crippled craft is underway in the Indian Ocean.  That a tragedy may have been averted, however, doesn’t mitigate that unethical abdication of responsible parenting and trust by Abby’s parents that set the stage for a calamity.

Had the ill-conceived adventure ended fatally, it is certain that we would have heard her heart-broken parents eulogize their daughter as intrepid,  courageous and mature beyond her appearance, who lived a full life in her sixteen years, and perished “living her dream.”  All true, but those aren’t the facts that matter.  What matters is that she is a dependent, trusting, sixteen-year old child who desperately needed her older and supposedly wiser parents to say “No. Being the youngest woman to sail around the world is good, living long enough to go to college, have a family, have a career and experience the joys of life over many decades is better. Sorry. It’s too dangerous. When you understand a little bit more about life, you may be capable of deciding when to risk it.”

They failed her, and the fact that she isn’t dead as a result is only luck. Continue reading →

“Welcome to AshleyMadison Stadium!”

/ Jack Marshall / 3 Comments

In an inspired bit of P.R. wizardry, the adultery-facilitating website AshleyMadison.com has made a serious bid for “naming rights” for New Meadowlands Stadium, the just-completed new home of the N.F.L.’s Jets and Giants. The site’s founder, Noel Biderman, has sent a letter to the CEO of New Meadowlands stating that they “are prepared to make a preliminary offer … of $25,000,000 for the Naming Rights for a five-year term” and would match any higher offer by other parties.

The N.F.L. isn’t going to let one of its stadiums be named after an adultery website, as Biderman well knows. But maybe Biderman has done the N.F.L. a favor by slapping it across the face and giving it a chance to avoid the venal, values-abandoning path that Major League Baseball adopted more than a decade ago when it allowed teams to sell naming rights of its new parks and stadiums to the highest corporate bidder, turning venues for classic sporting contest into billboard for banks, fly-by-night dotcoms and worse. Continue reading →

“Glee” Ethics

/ Jack Marshall / Leave a comment

Now that I know I’m not the only one to be a bit troubled by the gleefully unethical practices of the absurdly talented high school students in the performance choir chronicled in the Fox TV series “Glee,” I will conquer my fear of rampaging “Gleeks” and say so.

In addition to the annoyance of the teens being played by 30-year-olds, their absurdly accomplished performing skills, and most of all, the speed with which they arrange, choreograph and master complex musicals numbers that a no professional performing group could equal in less than a week of twelve-hour days, there is this: the students regularly violate the copyright laws by using music, lyrics and exact copies of video choreography in their numbers.

Yes, the producers of  “Glee” are really paying the artists involved; that’s not the point. The problem is that the show’s conceit contributes to an attitude among younger Americans (and a lot of old ones, like “The Ethicist,” Randy Cohen) that stealing intellectual property from artists is OK, everybody does it, and it is standard procedure. This encourages an unethical and illegal practice by glamorizing it, and also misinforms viewers who may not know that what the “Glee” kids do could involve big fines and serious legal problems in the real world. Continue reading →

When a Crime Is More Unethical Than Illegal

/ Jack Marshall / 5 Comments

“It’s just a dog folks!!! Why not go after people that brutally slaughter cows, chicken and pork. Oh wait, you eat those animals so that justifies killing them. This country’s priority is screwed up. He got what he deserved, fine, buy the couple another dog and perform community service. Now leave him alone.”

This was the reaction of a Washington Post reader to the widespread out rage over the cruel act of David M. Beers, a Marine Corps veteran who expressed his anger with a Maryland couple by taking their 4-pound pet Chihuahua and hurling her off a bridge to her death. A judge has sentenced him to four months in jail, and ordered him to pay a $1,000 fine, perform 300 hours of community service, and pay $318 restitution to Caisha and Timothy Wantz, who had just had a heated dispute with Beers before he took their pet.

The sentence is appropriately stiff, and yet inadequate too. Continue reading →

Unethical Quote of the Week

/ Jack Marshall / 21 Comments

“Client will not consider/review anyone NOT currently employed regardless of the reason.”

— Job posting for a “qualified engineer”at an anonymous electronics company in Angleton, Texas, placed on The People Place, a  recruiting website for the telecommunications, aerospace/defense and engineering industries.

A Huffington Post article by Laura Bassett properly condemns this hiring requirement as offensive, irresponsible, cruel and unfair during a recession, when there is widespread unemployment. The practice would also be offensive, irresponsible, cruel and unfair during an economic boom or an eclipse of the sun. Bassett interviewed a human resources representative for Benchmark industries, which follows the same hiring policies, and its rational was this: Continue reading →

Ethics Dunce: This Guy at a Mets Game

/ Jack Marshall / 6 Comments

In this video, a grown man reaches over and intercepts a tossed baseball obviously intended to reach a specific little boy with a glove in an inning-ending gesture by New York Mets third baseman David Wright. The fan snags the ball just as it was about to land in the shocked kid’s glove, and then hands it to his own child.

There are rumors, unconfirmed, that after being berated by surrounding fans, he returned the ball. It doesn’t matter if he did or not: doing the right thing after you have been caught, shamed and threatened is not an ethical act, just a pragmatic one. The deficiency of values displayed by the act of taking a baseball from the child, and the stunning lack of kindness, empathy and fairness it shows, would be sufficient to dissuade me from hiring such an individual for a job, allowing him to marry my daughter, or associating with him socially. I think he should have been thrown out of the park.

Many ethical decisions require thought and reflection. Deciding that it’s wrong for an adult to take a gift from a child is not one of them.