Business is not feeling a lot of love these days.
Corporate leaders are right to bemoan the nation's dysfunctional politics. But they also need to look in the mirror. Much of their poor standing is the result of their own misbehavior.
To review the past decade is to see a remarkable string of fraud, self-dealing, market manipulation, negligent manufacturing, money laundering, price fixing, price gouging and tax evasion -- much, but not all, of it focused on the financial sector.
Topping the list, of course, are the wildly irresponsible subprime and "no-docs" loans -- and the many lies that went into selling them in bulk to investors -- that nearly brought down the U.S. economy in 2008.
But headlines of the past two months show even that near-death experience, and subsequent reforms, haven't exactly halted the cavalcade of corporate wrongdoing.
In May, banking giant
Beyond the banks,
Most of these cases, including the one against
"I think people need to just be a little patient," Attorney General
That deterrent is sorely missing.
As for the aggrieved business community, it needs a hard look at its ethics.
Actions don't have to be criminal to be wrong -- a principle that seems to have been lost not just on
If business groups want to repair some of their reputational loss, they need to look first to themselves.
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