Wall Street are as thick as “insider traders” with a little help from the big house. The New York Times cites
a tragicomedy in this morning’s news that’s “fit to tint” – even though there has been a heightened focus on the insidious practice of insider trading and a very public attempt to crack down by authorities, there are still many clandestine and lucrative means of achieving the short cut to the ‘Gates of Mycenae‘. Really?
Surely, that can’t be for cascaded down from the highest house of the land, the law and its merry makers (Congressmen) pursue these high/low life pliers of ill-gotten gains from this illicit practice? We’ve read about
it and the daily news says Congress is hard at work routing out the cancer that’s been metastasizing throughout
the tottering ‘free market’ edifice.
Apparently not and it likely never will subside. Why? First, the pay-off (till your caught) is too tempting and secondly it pays off – as we (muppets) learned recently – if you are a Congressman: you are immune by the law
of the land and can insider trade without fault. It’s in the law!
So puh-leaze, “get off your horse, and drink your constitution” for until we crack open the ribs of Congress and purloin this farce you will always have a chronic insider trading problem as it gives license for it. Don’t forget, Wall Street might be where the money is, but the beltway is where all the power is, and it’s being wielded by hundreds of prolific insider traders. Through the smoke choices emerge – just ask your local well-heeled Congressman.
According to Greg Smith who is extricating himself from Goldman Sachs today, after a dozen years making millions, the prevailing attitude at the once venerable firm has relegated the customer is king belief to customers are “muppets” to Goldman Sachs bankers. The client’s role in directing the generating of wealth by the bank has evidently been usurped by contemporary bankers needs for personal gain and profit (not becoming a banker).
This will be fascinating to watch. What would Apple do or Target. What’s the first statement to be to the public or to the 30,000 bankers at GS. Crisis communications time.
As Ben Ratliff journalist for the New York Times revealed today, bands like the Rolling Stones, the Beatles, and the Beach Boys stood for an idea beyond their success. The same is true for enduring brands. They stand for something that resonates because they’re radically different from what’s expected with unique values, millions love, share and sustain.
How can that be tapped by brands and what’s the most essential element in this saturated world?
Be different to what’s been done as Timberland demonstrated
Be principled like Disney, but not too uptight
Be heroic with a validated opinion that charts a new course for business e.g., Nike
Be known for being remarkable as is Apple
Be followed like Coke
Be sustainable and fresh like Patagonia
Be a challenger of the rule like you.
Breaking the frame is the common thread that generates shareability. We needn’t be surprised nor challenged by it, especially when one considers their own ‘rock n roll’ lifestream.
Matters are at a division of deep regret. The upstart has begun its ‘ descent’ to become a blue chip multinational demonstrating what makes you great fades with age. The challenger becomes normalized and prepares for introducing fees for usage perhaps, looking to the mobile category to assimilate potential opportunities to generate revenue streams on usage? Whatever is up, Twitter just took a major broadside from its customers. Yes, customers, remember them. The people that got the phenomena off the ground and made it the cultural success it is today. You’ve got to earn to eat and there’s nothing wrong in making money, but is there a way Biz (Stone, CEO, Twitter) that doing right by the customer could be the business model?
Here are a few things to keep in mind. You have most of them in play (for now):
Keep on being heroic
Keep on being different to how it’s been done
Keep on being principled
Keep on being fresh
Keep on being followed
Keep on being a challenger to the rule.