Today I was looking at This Week with George Stephanopoulos on Sunday morning on ABC in the US. I dare you to try and say George’s full name 3 times fast. On the show they had Shawn Fain who is the head of the UAW in the US. Mr. Fain was saying he is supportive of President Trump’s tariffs. That’s his opinion. Opinions are like butt holes. Everyone has one. Obviously, I disagree with Mr. Fain. But he also said that we have to get rid of corporate greed. And in my mind I said, “Are you crazy!”
There is nothing wrong with corporate greed. I bet you would like corporate greed when you see your stock portfolio go up or your IRA account hit new highs. The two tenets of business are to make as much money as you can as fast as you can. We should all be so greedy.
What we should eradicate is corporate crime. Corporate greed and corporate crime are mutually exclusive. You can be greedy without being criminal about your greedy practices. If corporations are being greedy but have an ethical code then more power to you. Once you cross the line and start committing crimes then it’s all bets are off. And as an ethical trader/investor if I get wind of any criminal practices I will pull my money no matter how much of it I’m making with them. I don’t want to have my money with an Enron type company.
And if there are any grey areas in the law I would recommend practicing on the side of caution.
So I agree with Gordon Gekko in the movie “Wall Street” when he said, “Greed is good.”
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