Over the past few days/weeks I've come across some instances where I saw greed and poor risk management. This isn't unfamiliar turf when money is involved.
In one of the more public and notable cases, an insider trading ring was busted up that resulted in the illegal profits in the $20 million dollar range. That all sounds like big money and worth the risk, unless of course you were one of the richest people in the world, running a hedge fund and were already worth over $1 billion buckeroo's. I wonder what THIS GUY will think about his risk taking and greed when he ends up serving time.
Multiple people threw their careers and futures right out the window for what? They were already wealthy.
We all encounter situations where something might look like easy money or a great solution to an immediate problem. Typically people will assume that they will never get caught. Further, once we cross that line, I would speculate that it would only become easier and easier to cross the line again and again in the hopes of repeated success.
Look at Madoff. He even said himself that when he started out in his career, he was legit. But then he cut a corner and then another corner. And pretty soon he needed to keep it up and it just grew out of control. And then you get to a point where there is no turning back.
It could be affairs, it could be money, it could be the pursuit of power or a number of things that could wreck our lives. How can we just get people to ask themselves, "What is my upside here and what is my downside and is it really worth it if I get caught?"
And all this becomes really relavant if you actually have something to lose (whether it was a million dollars, a billion dollars or simply your reputation.) It's not a case where somebody gets caught shoplifting a can of soup to feed their hungry children. At that point, there really is a downside of not trying to cut a corner.
It doesn't seem as though many people are reading Ralph Waldo Emerson or Henry David Thoreau this day in age. What ever happened to a simple, clean and wholesome life where our pursuit of happiness had very little to do with the pursuit of material goods? Then again, greed has been around just as long as man has. And I don't think it is going away anytime soon.