If America’s total dependence on business revenues and stock market/housing bubbles is simply fine because the bubbles just keep pumping up, there’s nothing left however rot.
It’s becoming a routine story: a whistleblower emerges with generous documents, revealing the ethical/ supervisory rot at the very leading of Corporate America icons. Just recently it was Facebook that was exposed as devoting much more resources to masking business guile than to actually improving longstanding ethical and quality issues.
Now it’s Pfizer’s fast and loose treatment of allegedly strenuous protocols that’s been greatly recorded. The distinguished British Medical Journal (BMJ) stated that the whistleblower supplied “The BMJ with dozens of internal business files, images, audio recordings, and emails.” BMJ Investigation: Scientist blows the whistle on data integrity issues in Pfizer’s vaccine trial.
The purpose of playing fast and loose is to make the most of revenues regardless of any other factors. And while corporations exist to optimize earnings, the pattern in Corporate America is to sacrifice whatever to make the most of profits and keep the rank sewage concealed from regulators, the media and the general public.
This isn’t about profit, it’s about concealing the rot that has actually permeated into every nook and cranny of Corporate America. The foundation of the stock market’s extreme valuations is corporate profits, and the stock market bubble is now the precarious foundation of the whole U.S. economy: must the bubble pop, everybody knows the economy and the financial system will both crash.
The usual business method– disparage the whistleblower and blow smoke to cover the rot– loses traction when the rot is documented by internal memos, recordings, etc. It’s hard for the lackeys of Business America to dismiss the British Medical Journal as just another tin-foil-hat outlet of “fake news,” specifically with all the documentation now revealed.
Lost in the obsession to profiteer and hide the rot is the idea that corporations have obligations to the public and their customers/users, not simply to greedy supervisors and shareholders. These duties have been tossed into the muddy ditch.
Laws only exist in name in America. Corporate America plays by its own rules. Business America is not longer regulated in any consequential style, as the list of Pfizer’s actions reveal:
— Individuals put in a hallway after injection and not being monitored by scientific staff
— Absence of timely follow-up of clients who experienced adverse occasions
— Procedure variances not being reported
— Vaccines not being kept at proper temperature levels
— Mislabelled lab specimens, and
— Targeting of Ventavia staff for reporting these types of problems.
The last product appears in virtually every whistleblower case: the corporation does not rush to fix its glaring ethical and quality issues, it hurries to silence the whistleblower and “handle the story” to safeguard its precious profits. Never mind that the general public pays the rate for corporations stating something and doing another, for hiding what they attempt not let regulators, users, clients and patients learn more about their practices and behind-closed-doors goals.
The Prime Regulation of Corporate America is to hide the rot that’s permeated the whole corporation, beginning at the top.
We should not be too stunned that Business America is rotten to the core– the whole status quo is rotten to the core. Ethics and guidelines are inconveniences to be skirted, and if some random regulator catches experts in the act, the corporation pays an insignificant fine and after that returns to BAU– organization as typical, rotten to the core.
Any person who desires to be educated would be well-served to read this report carefully: BMJ Investigation: Scientist blows the whistle on information stability issues in Pfizer’s vaccine trial.
As further paperwork, I am honored to share an amazing information base of Business Fines and Settlements from the early 1990s to today compiled by Jon Morse. Here is Jon’s description of his task to put together a comprehensive list of all corporate fines and settlements that can be verified by media reports:
“This spreadsheet is all the corporate fines/settlements I’ve had the ability to discover sourced short articles about, primarily in the period from the 1990s as much as today (with a couple of 80s and 70s). This is by far the most thorough list of such things online. A minimum of that I could discover, since the absence of any decent list is what made me begin compiling this list in the very first place.”
What’s noteworthy is the sheer number of corporate offenses of laws and regulations— thousands upon thousands, the huge bulk of which happened given that corporate revenues began their unbelievable ascent in the early 2000s– and the list of those paying numerous countless dollars in fines and settlements, which checks out like a who’s who of Corporate America and Top 100 Worldwide Corporations.
I motivate you to open among the three alphabetical tabs at the bottom of the spreadsheet on Google Docs and scroll down to discover your favorite super-profitable corporation.
Many have a long list of fines and settlements, and many of the fines are in excess of $100 million. Lots of are for outright cartel price-fixing, not revealing the threats of the business’s greatly promoted medications, damaging documents to ward off an investigation of wrong-doing, etc.
Simply put, these were not wrist-slaps for small oversights of complicated guidelines— these are outright infractions of core unwritten laws.
Jon offered this commentary on Corporate America’s slide to the bottom of the ethical cesspool:
“With the increases in concentration of wealth there has actually been a culture of idolizing wealth, one example is how prosecutors no longer find it proper to put lenders and CEOs in jail. I think one side-effect of the culture altering has actually been an increased willingness to break the law to increase revenues.
The settlements with the banks in addition to the continuous investigations have shown that virtually every market is being manipulated; the stocks, metals markets, LIBOR, FOREX, everything. The business would just break so many laws if they felt they would have an affordable possibility of getting away with it; they would also require a factor to do it, which is provided by the boundless growth design our economy is based upon.”
Thank you, Jon, for putting together a tremendously essential and valuable database, and for connecting this shocking list of infractions to the cultural praise of optimizing private gains at any cost. I am reminded of socio-economist Immanuel Wallerstein’s description of the current system of central-state/private-corporation collusion as “a specific historic setup of markets and state structures where private financial gain by nearly any means is the paramount objective and procedure of success.”
If America’s total dependence on business earnings and stock exchange/ real estate bubbles is just fine because the bubbles just keep inflating, there’s absolutely nothing left but rot. The once strong timbers of America are now so rotted that you can push your finger right to the centers of power and discover nothing however the falling apart remains of principles, accountability, competitors, transparency, regulative oversight or duty to anything beyond optimizing private gain and masking the rot with cleverly developed narratives loaded with quite sentiments.
The gruel being served at the banquet of repercussions will not nourish a revival. The rot is too deep and too prevalent.
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