Where Have all the Whistleblowers Gone?

I was inspired by this article; http://www.time.com/time/magazine/article/0,9171,1003998,00.html and at the same time disappointed. Inspired because it recognized the importance and need for whistleblowers. Disappointed because since that time there has been a breech by Freddie Mac and Fannie Mae very similar to the Enron case, and this time the magnitude of that ripple effect hasn’t fully been realized yet. It is definitely a core piece in the puzzle, “What caused the meltdown on Wall Street?” The current melt down on Wall Street is a confusing amalgam of poor judgment, poor investment, poor planning, poor regulation, and most likely somewhere in there at the heart of it all, poor ethics. Everyone is pointing at someone or something else. I actually read an article that the current housing crisis is a result of affirmative action. For rebuttal see: http://www.nowpublic.com/world/why-meltdown-wall-street
Many claim ignorance. I must say, willed ignorance for the sake of blind profit is one of the most unforgivable crimes.

To address the question, would I “blow the whistle?" Absolutely! The Suzuki Samurai was found to be likely to roll over if a driver swerved into an emergency. Suzuki executives denied there was a problem, and sales plummeted. On the other hand, Daimler-Benz had a similar problem and admitted to it, came up with a solution, and committed the money necessary to adhere to that solution. They didn't gain income, but they also didn't suffer losses. Conversely, there are stories of people who experienced the height of wealth, assuming life would go on and they could continue to manipulate other people’s money and investments for their own gain, only to be sentenced to 25 years to life imprisonment, as in the case of Bernie Ebbers of WorldCom.

The striking reality seems to be that while greed can thrive undetected for decades, eventually natural order and balance will expose it and extract the guilty from society. A person, company, or government can only steal for so long before the people will come looking for their money only to discover the corruption at hand. Sadly, it seems that in the case of America’s economy people are not learning from the previous mistakes of others, and each time the cost seems to be greater.

I would “blow the whistle” for the sake of all members of the collective community, and for the sake of the well being for the people affected by the community. With “SOX” in place, it really doesn’t even make sense to argue, “I can’t say anything because I’ll lose my job!” See: http://en.wikipedia.org/wiki/Sarbanes-Oxley_Act. If I don’t say anything, we will all probably lose our jobs, if not our retirement. What do I have to gain by covering for corrupt activity?

As far as what punishment I think should be imposed on corporate executives who knowingly cheat investors or employees? The same punishment and penalties that any individual would face. They should be brought to trial under due process in exactly the same manner as an individual who might be caught stealing from a corporation.

When the general public and the government turn a blind eye, they send the message that this kind of behavior is okay. Hopefully the magnitude of the current economic crisis will bring awareness that none of us is really isolated from the effects of unethical, ignorant and greedy behavior. In the case of the most recent threat to Wall Street, everyone is affected. Hopefully that realization will serve to strengthen practice of the Golden Rule across the country.