Ethics appears to be a disappearing ideal in the business world, especially when executives are taking vacations with tax dollars, as well as getting their “golden parachutes” handed to them for a job poorly done. In the midst of a crashing market, we have seen multiple bailouts given to companies that were on the verge of going belly up due to their excessive greed. So for my amusement and I hope yours, I have compiled a list of quotes that I feel every Wall Street executive should read. Enjoy.
1. Earnings can be pliable as putty when a charlatan heads the company reporting them. (Warren Buffet, American Investment Entrepreneur)
2. How do we know when irrational exuberance has unduly escalated asset values? (Alan Greenspan, Chairman of US Federal Reserve Board)
3. If ethics are poor at the top, that behavior is copied down through the organization. (Robert Noyce, inventor of the silicon chip)
4. The inherent vice of capitalism is the uneven division of blessings, while the inherent virtue of socialism is the equal division of misery. (Sir Winston Churchill, British Prime Minister)
5. I conceive that the great part of the miseries of mankind are brought upon them by false estimates they have made of the value of things. (Benjamin Franklin, American diplomat, inventor, and writer)
4 Comments
Sound money, Sir. This is what we need. No more mad paper which hides risk from the buyer.
The stock market is no better then shooting craps in Vegas only I think you get better odds in Vegas.
Original quote from The Movie Whore
Bravo, Rinechops. I think some lite reading is in order for these clowns!
Mongoose – I couldn’t agree more. Too often people are taken advantage of by greedy corporations.
TMW – Well said good sir.