#228 transparency

There was so much talk about transparency in corporate managment and in politics…today, news revealed there was NO transparency at all. If there were, it was selective transparency. As a matter of fact, there were lots of cover-up!

The latest: bonuses given to top executives at Merrill Lynch on the quiet! The bargain to pay out bonuses were kept for these top earners yet staff were axed and investors lost their hard-earned money!  Where is integrity? Where is honesty? Are the consciences of these top executives seared?!?

This recession is a revelation of sheer lack of transparency in every aspect of life! It is not just greed but lacking in integrity and honesty!

How could banks and corporations chalked up so much deficit that cause a downward spiral on the world economy? These were kept out of the public in annual reports.

Were there concerted efforts among the professionals involved — accountants, lawyers and others — to deceive the public, without mentioning those in governance! All those mutual back-scratching and deception…haha…the truth is out there!

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2 Responses

  1. How is it, that securities are traded between registered firms without clearing on or being registered with a regulated exchange? Can you possible expect transparency, when economic instruments of mass destruction are being bartered out of the back of he building?

  2. I think you hit it right on the money. Honesty and integrity are two traits we look for in leaders and in these cases it was missing. People tend to do crazy things when things go bad and I think the majority of the issues occurred when people realized it was not pleasant and dandy out in the world. This isn’t to say that it wasn’t occuring before either.
    Thank you for raising such issues!

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