The Cellar - View Single Post - Attitudes that Many on Wall Street would call Acceptable

tw · 03-14-2012, 07:40 PM

Ho hum. Nothing new. All that is expected and normal when profits are the purpose of the company or organization. As was true with Fiorina in HP. Or Whitmore or Perez in Eastman Kodak. Allen of AT&T. Surma of US Steel. Wagoner and Roger Smith of GM. Scully and Splndler of Apple. Nardelli in Home Depot and Chrysler. Henry Ford or Jacque Nasser in Ford. Cannavino and Akers in IBM. Frazier of Merek. Corzine from Goldman Sach who later did nothing as NJ Governor and then raided customer's investment accounts to cover up his losses in derivatives.

Well proven is why financial oganizations can never be over regulated. Goes right the conflict between Lookout and me. I defined the problem. He took offense because he was part of the problem. A conflict and anger that he has recently confirmed again. Because only the product is important. Profits are only a metric; clearly not the purpose.

Very little difference exists between a company that believe profits are its purpose. And mafisos families, stock brokers, communist governments, dictatorships, and loan sharks. In every case, the purpose of that organization is to enrich themselves. Screw the customer, productivity, employees, the law, or the principles that made America great. One need only view Cheney to appreciate an attitude that creates corruption. That even justified torture.

Only reason that posted article is shocking: some are still so naive as to not realize why this recession even exists. Why those employees have that routine attitude promoted by Wall Street. Why the rich are getting richer at the expense of all others. They actually think their wealth and income is more important than anything else. More important than America. They are corrupt. They have no idea what makes a productive business. Would not know innovation if it was stuck up their nose. And don’t care.

Ivan Boesky publically admits he had that same corrupt attitude. His corruption was the basis for Gordon Gekko. Jack Abramoff of the famous K Street scandal now openly admits how corrupt he once was. That corruption was so routine that he did not even know his attitude was corrupt.

We are nothing more than dumb sheep to be fleeced. Those I went to school with who later became those stock brokers were typically some of the poorest students. But then even criminal minds are not known for their intelligence.

His NY Times article only says why the California energy crisis was created. Why those criminals went unprosecuted. Why it took humiliation from the state of Oklahoma before George Jr would prosecute Enron. But then George Jr was also educated by the same corrupt philosophies.

The purpose of any company is its product. For profit and non-profits alike. An honest executive must even know how to use the product because that is their #1 purpose. To advance mankind. To provide customers with better products. To do what William Edward Deming so bluntly defined. Employees in GS could not even bother to know what products were. Their only purpose was to enrich themselves – which is routinely advocated on a Wall Street that cannot invest in innovation and productive businesses. Who were so corrupt as to even finance Eastman Kodak’s buggy whip business.

Why is Deming an enemy of business schools? Business schools created those examples in Goldman Sachs. Legalized corruption. People so pathetically immoral as to think the purpose of a company is only its profits. The article only demonstrates what everyone here should have known years ago.

Obviously Greg Smith is so appalled at what is normal and acceptable business practices as to endanger any future employment. To remind every reader how corrupt Wall Street is. But then everyone in the Cellar should know that by now. Once upon a time, Wall Street was how innovation got financed to create great American institutions. Now it is where some of the greatest criminal types pinch $millions at the expense of all other Americans. Because only the most corrupt would think the purpose of a business is profits. Notice how many above are corrupt and therefore enriched.

03-14-2012, 07:40 PM	#9
tw Read? I only know how to write. Join Date: Jan 2001 Posts: 11,933	Ho hum. Nothing new. All that is expected and normal when profits are the purpose of the company or organization. As was true with Fiorina in HP. Or Whitmore or Perez in Eastman Kodak. Allen of AT&T. Surma of US Steel. Wagoner and Roger Smith of GM. Scully and Splndler of Apple. Nardelli in Home Depot and Chrysler. Henry Ford or Jacque Nasser in Ford. Cannavino and Akers in IBM. Frazier of Merek. Corzine from Goldman Sach who later did nothing as NJ Governor and then raided customer's investment accounts to cover up his losses in derivatives. Well proven is why financial oganizations can never be over regulated. Goes right the conflict between Lookout and me. I defined the problem. He took offense because he was part of the problem. A conflict and anger that he has recently confirmed again. Because only the product is important. Profits are only a metric; clearly not the purpose. Very little difference exists between a company that believe profits are its purpose. And mafisos families, stock brokers, communist governments, dictatorships, and loan sharks. In every case, the purpose of that organization is to enrich themselves. Screw the customer, productivity, employees, the law, or the principles that made America great. One need only view Cheney to appreciate an attitude that creates corruption. That even justified torture. Only reason that posted article is shocking: some are still so naive as to not realize why this recession even exists. Why those employees have that routine attitude promoted by Wall Street. Why the rich are getting richer at the expense of all others. They actually think their wealth and income is more important than anything else. More important than America. They are corrupt. They have no idea what makes a productive business. Would not know innovation if it was stuck up their nose. And don’t care. Ivan Boesky publically admits he had that same corrupt attitude. His corruption was the basis for Gordon Gekko. Jack Abramoff of the famous K Street scandal now openly admits how corrupt he once was. That corruption was so routine that he did not even know his attitude was corrupt. We are nothing more than dumb sheep to be fleeced. Those I went to school with who later became those stock brokers were typically some of the poorest students. But then even criminal minds are not known for their intelligence. His NY Times article only says why the California energy crisis was created. Why those criminals went unprosecuted. Why it took humiliation from the state of Oklahoma before George Jr would prosecute Enron. But then George Jr was also educated by the same corrupt philosophies. The purpose of any company is its product. For profit and non-profits alike. An honest executive must even know how to use the product because that is their #1 purpose. To advance mankind. To provide customers with better products. To do what William Edward Deming so bluntly defined. Employees in GS could not even bother to know what products were. Their only purpose was to enrich themselves – which is routinely advocated on a Wall Street that cannot invest in innovation and productive businesses. Who were so corrupt as to even finance Eastman Kodak’s buggy whip business. Why is Deming an enemy of business schools? Business schools created those examples in Goldman Sachs. Legalized corruption. People so pathetically immoral as to think the purpose of a company is only its profits. The article only demonstrates what everyone here should have known years ago. Obviously Greg Smith is so appalled at what is normal and acceptable business practices as to endanger any future employment. To remind every reader how corrupt Wall Street is. But then everyone in the Cellar should know that by now. Once upon a time, Wall Street was how innovation got financed to create great American institutions. Now it is where some of the greatest criminal types pinch $millions at the expense of all other Americans. Because only the most corrupt would think the purpose of a business is profits. Notice how many above are corrupt and therefore enriched. Last edited by tw; 03-14-2012 at 07:46 PM.