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Let me say some more about this, since it is an example of something that is going really wrong today. When the economy crashed in 2007, a great many people sa
by woodandsteel 8y ago
Let me say some more about this, since it is an example of something that is going really wrong today.
When the economy crashed in 2007, a great many people said the financial industry is all crooked. Many in the industry said that their own branch was honest and responsible,and that when the housing bubble was going on, they had looked at it as an example of the sort of bad finance they themselves would never practice.
But the thing is, if most of the finance people saw the bubble fraud for what it was, why didn't they all speak up and warn the nation? I say it was because they were too focused on making money in their own field, and felt no responsibility to the society as a whole.
That is what is going on in the accounting field. They know there is massive fraud,and many practices that may not be fraud, but are bad for the economy and the world, but they don't explain it because it would get in the way of their making money doing something technically honest.
You know, a society like ours can function well only if everyone looks at the bigger picture, and not at just a narrow definition of what they are being paid to do. Does anyone really disagree?