It’s real simple. It is 2013 and we sorely lack accountable leaders. I read a story about how some major investment companies including Goldman Sachs are generating revenue by slowing down the flow of aluminum and collecting additional storage fees for the delays. You can read it here: http://nyti.ms/160OM1q
The article went on to mention that “the maneuvering in markets for oil, wheat, cotton, coffee and more, have brought billions in profits to investment banks like Goldman, JPMorgan Chase and Morgan Stanley, while requiring consumers to pay more every time they fill up a gas tank, turn on a light switch, buy a cellphone or open a soda. Last year alone federal authorities accused three banks, including JPMorgan, of rigging electricity prices.” Ultimately these practices drain billions of dollars from all of our pockets and from our economy.
It’s Legal But Is It Right?
It’s not that the financial institutions are breaking any laws with respect to the aluminum issue. And they are quick to point that out, but I for one question the practice. A business should, in the process of selling its products or providing its services, provide value. We all have a moral obligation to add value to our community and not drain it of its resources. So many business leaders just don’t get it. They only focus on profits at all costs. Aren’t these the same financial institutions that needed bailing out a few years ago? And now they are back playing their games?
There are so many companies that make great products, make good profits, and serve us in the process. It can be done. It is time that we stand up and demand that the immoral practices stop and that those organizations go away.
People want others to decide what’s right and wrong. They want to hide behind the law. Forget what is legal. You know what is the right thing to do.
Ultimately I see a lack of accountability. What makes matters worse is that I don’t see a society (read, you and me) that stands up and says, “No more. That behavior is unacceptable.” If we want accountable leaders and if we want accountable organizations we must be accountable first and we must demand that everyone around is accountable as well.