Wednesday, 14 March 2012

Muppets On A String

The suggestions that people at Goldman Sachs dealing with clients and those being sold financial products called them “Muppets” comes as no great surprise.  That a former senior executive is talking about the loss of “moral compass” only tells us what many of us have come to expect.

This is the way it has been going for a little time now.  Once “never give a sucker an even break” marked out the shysters and the con men from people trying to do more or less honest business. 

The saying “Caveat Emptor”, or buyer beware has been with us if not since time began then at least since the age of the Roman Empire.  You would certainly not have wanted to buy a used chariot from some of the Emperors.

For those of us who decades ago were used to basic honesty and an attempt to give real service to customers the recent years have given us too many hard lessons about the way things have changed.

Now instead of being able to believe the bills or the information or what the seller said it is a matter of check, check and double check.  Mercifully, the web gives us half a chance in many matters enabling us to call up a great deal of detailed information and comment.

This may not be entirely reliable or as full as we would like but often we do get an insight into what the other side is up to or not.  That complicated bit is that if we are thinking of buying to do this or that then it may well not do that but something else we do not need.

Pensions come to mind so inevitably, the financial sector is by far the worst in this and an arena where the hapless believer in a morality can be torn apart by the predators for the passing amusement of those who have hired the beasts.

Second only to the financial sector are the politicians and they are second because they are being paid off by the money men.  The trouble with this lot is that they actually do the governing part and makes the rules to suit.

In the last year I have had nasty spats with banking, energy and other utilities, never mind agencies involved in property affairs.  At my age I can do without it and for those of any age it is a wearing distressing business when you have to face work and all the daily responsibilities of families and the rest.

In retailing we have been active in hunting for suppliers that have a basic notion of service and honesty.  They are out there and have to be treasured because there are few around, most driven out by the big boys in modern business.

Just how did it get so bad?

1 comment:

  1. Rules I have come to live by:

    - If it doesn't say it on the packet, it isn't in the packet
    - If it says that it is in the packet, open the packet before paying your money
    - If it seems too good to be true, it's not true