Ethics in the Media

Heart and Soul, The BBC

The BBC has a report on whether one can have ethics and still make a living. Some people feel ethically compromised at the workplace.  The report looks at the challenges of working ethics from a Buddhist perspective.

According to one student and practitioner of Buddhism, we should be suspicious when we are told there is no effective alternative to the current free-market capitalist system.  This system exults greed and promotes individual self-interest.  To make greed the ultimate value is perverse. To isolate the self is antithetical to one of the three key “jewels” of Buddhism, that is, the precept of community or sangha. Thus, a system that has these two values as foundational pillars cannot endure.

Ending the Moral Rot Part on Wall Street I by William Cohan

This piece is the first of a two part series about the lack of ethics on Wall Street.  The writer is a former investment banker. In this first part, he examines the conflicts of interest endemic on Wall Street.  In particular, Cohan, describes the case of Goldman Sachs and the ABACUS case.

He also writes about rampant corporate corruption, the “money above all” culture, and the unhealthy alliance between Pennsylvania Avenue and Wall Street.  Are corrupt business models becoming all too common?

Ending the Moral Rot Part II, William Cohan

In the second part of this series, Cohan argues how the bail-out of the banking system failed to ensure reform of banking culture and activities.

He makes three suggestions for restoring public confidence:

Revamp the bonus culture

Stop proprietary trading

Cut Wall Street pay