Economy matters. It absolutely does. And you may recall that the whole reason our economy is in the state it’s in right now is because of the antics of the last set of Conservatives. Their questionable integrity got them booted out of office and forced an “Orange Crush” vote in protest. That’s proof right there that integrity matters as much as economy.
That’s how I replied to an email from a friend of mine who was disappointed by my recent post about the upcoming Alberta election. He told me to “read the policies and reflect just a little on what the NDP has done to this province.” His final message to me was, “Economy matters.” Then he disconnected from me on LinkedIn. I guess I only get to be his friend if I agree with him on everything.
A lack of integrity can crash the economy.
You don’t only need to read Alberta’s archives from 2015 to understand how a lack of integrity can detrimentally affect the economy. Read today’s news.
Just ask TD Bank about the effect this CBC news story about disgruntled employees had on their stock performance: TD Bank shares post worst day since 2009 after CBC story.
That story was followed by yet another one about thousands more disgruntled employees who replied in solidarity: ‘We are all doing it’: Employees at Canada’s 5 big banks speak out about pressure to dupe customers.
That story was followed by similar complaints from employees in the telecom industry: Former Bell and Rogers employees reveal sales secrets submitted to public inquiry.
And that story was followed by a public inquiry which reported this just last month: Telecom customers face ‘unacceptable’ harm from misleading sales tactics, CRTC says.
Too bad the banking inquiry wasn’t as accurate as the telecom inquiry was: The FCAC’s handling of its bank review is grounds for a public inquiry into the regulator and Canada’s financial services. “It’s proof that the Department of Finance is complicit with the FCAC and is deceiving the public,” SIPA president Stan Buell told Go Public.
Ask all these companies what stories like these can do to their share prices. It isn’t pretty. And it affects us all.
Economy matters. Above all else?
When those in leadership place economy ahead of integrity, that economy will only sustain itself for so long. Employees and the public will begin to see through the deception. They’ll start complaining. First in small numbers. Then those numbers will grow larger and larger until a domino effect takes place that not only slows current progress; it can cause a recession, even a complete market crash.
I’m going to a Jason Kenney rally in Calgary this week because I want to hear him speak. I’m still willing to listen to what he has to say. But his policies are not the only things I’m watching. I’m also watching his character—his level of integrity. I long for the Ralph Klein days again. I hope this is the guy. But we’ll see.
Related Reading: Wells Fargo account fraud scandal “…Initial reports blamed individual Wells Fargo branch workers and managers for the problem, as well as sales incentives associated with selling multiple “solutions” or financial products. This blame was later shifted to a top-down pressure from higher-level management to open as many accounts as possible through cross-selling.“
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