Making a financial decision
I was relaxing yesterday and found an interesting show after flipping through about a dozen or so channels. The show I watched is called American Greed. You can probably guess from the title that the show probably does not have happy endings. If there is greed, then there is a good chance someone was enriched at the expense of someone else.
One of the shows was about a former highflying billion dollar company. They were wall street darlings for a time with their stock price increasing. The problem was the company had to "cook the books' to keep hitting wall street expectations. Some of the officers were convicted of charges relating to cooking the books. I'm pretty sure they knew right from wrong but made a financial decision which seemed like the right thing to do at the time but ultimately wasn't.
Those people convicted were probably decent folk but making one poor financial decision (and justifying it to yourself) makes it easier for the next one. Eventually, it just adds up to wrong.
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Richard J. Garcia | 01/23/2012