Your post addresses the individual responsibilities each of us should consider and ultimately commit to doing. But, that is one half of the equation. As a self-help, investment author and investment advisor, my perspective, when I saw the title, was that this column was about financial professionals. Everything you wrote applies to financial services professionals.

People should expect, at a bare minimum, honesty, integrity, transparency, and full disclosure from their banker or investment professionals. Although it may not seem like it, bankers and financial services professionals are human. They will make mistakes. But a return to a time when a person’s word was their bond would move our economy in a more consistently positive direction. I personally believe it begins with banks and financial services professionals committing to a higher standard than the fine print in a legal document.

It comes down to trust and trust must be earned and maintained. You wrote a great column! I just wanted to say that finding “moral and ethical limits and remain steadfast in their direction” also applies to those who earn their living in the financial services industry.

It’s about people, not money. When money becomes the focus, we all lose something. And that something is much more important than money.

Best regards,

Paul Puckett

I’ve thought about the ethics of paying off my debt vs. defaulting vs. bankruptcy, and I’ve made the choice to pay off what I owe even though it’ll put me behind the 8-ball for a long time, credit-wise. I’ve been told I’m a perfect candidate for bankruptcy because of the kind of debt I have, but I just can’t bring myself to do it.

OTOH, I haven’t ever really thought about investing in terms of where I should invest based on my core values. I personally don’t have a problem investing in alcohol companies. I probably wouldn’t invest in tobacco companies. But what I haven’t thought to consider are things like companies that discriminate, or support social/political POV that I think are wrong, and so forth.

I’m also not sure where I stand on the whole peer-to-peer lending thing – it’s certainly something I’ve considered as an investment option when the time comes.

I’m definitely going to be putting more thought into these things!
kh recently posted..Sunday Summary 7

My refusal to do these things have changed him. Hopefully, it is possible or the ethical majority to influence those that are not.