I always know when I need to write about something, because
it just won’t leave me alone until I do. A bit to my horror, today I find
myself writing about something I, on many levels, abhor. Corporate greed and
politics. Ugh. But…here I go…
My mind has been swimming these past few days with images of
the Senate interrogation, and the subsequent media indictment, of the CEO of
Wells Fargo Bank – my cousin, John Stumpf. This is a first for me, to have
feelings about some corporate head being interrogated. However, this time it
feels personal because I know John. I know his family. I know the deeply
embedded values and general goodness of his parents and the 11 children they
raised.
When I watched the video of Senator Warren’s interrogation
of John, I saw things from an entirely new perspective. I’ve been a fan of Ms.
Warren for years. I applaud her hard work on the behalf of the people, and her
consistent drive to put an end to greedy corporate practices that drive up
profit and pad the pockets of CEOs. Including John Stumpf’s.
However, I was
sickened by the headlines that brought me to the video. “Watch Elizabeth Warren
skewer John Stumpf in Senate Hearing.” A public skewering – that’s what it
looked like and felt like to me. Is this what we’re after now?
I was sickened by the interrogation itself. What I saw was a
politician with an agenda (albeit, in my opinion, an important and necessary
one) hammering away at a man, pulling isolated facts out of a pool of countless
pieces of truth, and posing “questions” that could only bolster the facts she
had pulled. There was no room for Mr. Stumpf to explain or provide a broader
perspective.
What I saw was a man – a good man, in my opinion – getting skewered.
It felt to me like Ms. Warren’s direct interrogation style has become sport. I saw
thinly veiled glee in her face as she, again and again, trapped the man in his
own answers, while making it impossible for him to provide a larger
perspective. “That’s not what I asked.” Repeatedly, this was what I heard when
he attempted to provide a bigger picture.
Would I have even noticed this if it had been another CEO
from another bank in that chair? Likely not. In fact, I would probably have
been cheering her on. Go get ‘im, Elizabeth!
But instead, I found myself filled with a nagging question:
where was the quest for the bigger truth that could actually shed light on how practices
like this emerge in companies? Because sales incentives like the ones
implemented by Wells Fargo are not only common in corporate America, they are
the standard. And, make no mistake about it, they impact the way folks do
business all the way up and down the corporate ladder.
“You should resign,” she quipped. Really? Would John’s
resignation even make a dent in the issue of corporate greed?
Because clearly this is about greed. Corporate profit.
Making the shareholders money each quarter. It’s about the engine that drives
corporate America at every level. Going after one man, or even one company, is
not going to get at the root of it.
In the grand scheme of corporate greed, this “scam” is tiny.
I’m not implying, in any way, that it was okay. But let's put it in perspective. It resulted in 2.5 million
dollars profit over the course of several years, in a company whose annual
profit runs in the many-billions column. Peanuts compared to the corporate
greed we witnessed in the 2008 bailout. And those guys skated away. With
billions. “Skewering” John Stumpf, or even Wells Fargo, cannot make up for the
pass that was given back then.
If we want to really get at the core of corporate greed in
this country, we need to go to its roots. The system is so seriously flawed
that it will take a grand effort to even locate the roots. I encourage Senator
Warren to continue her hard work on our behalf. And I encourage her to open her
perspective, to learn from these CEOs, To listen. Because there is much left
unsaid in this case. In my opinion.
I encourage John to tap into his own deep roots, the values
I know he was raised with. Perhaps having a leader like John at the helm of the
largest bank in this country is exactly what’s needed to make deep and lasting
change in a broken system. In my dream, I see men like him recognizing that
the corporate system is corrupt, that it is run by greed. Only the folks from
the inside can really provide the larger perspective on how our business model has gone so wrong. They need to be willing to speak out, willing to step forward and make
changes. Even changes that will impact their bottom line.
And…they need to be heard by those who have the power to
make changes in the laws that regulate the industry. Perhaps the only way to
make real and lasting change is for folks like Elizabeth Warren and John Stumpf
to team up. What a concept, eh?
So, I walk away with a bigger perspective. I see with more
clarity how important it is to stop taking sides, stop operating as the “good
guys” against the “bad guys.” Because it was less clear to me, in this case,
which was which.
As long as we continue to push our own agendas exclusively, to
hold our own perspective as the only truth, we will stay in the same kettle of
soup. Courageous action is required here, on all sides of a complex issue.
Do our elected officials have the courage to look for the
root cause of greed-driven corporate (and for that matter, political) practices
and make changes that can truly impact the future of business in our country?
Rather than going for the low-hanging fruit and “skewering” those individuals who
get caught in the act?
Do the corporate leaders have the courage to make changes in
their practices that they KNOW are out of balance, that put profit above the
good of the people? Will they ever stop putting their own personal income above
the good of their employees and their customers?
Do we, as consumers, have the courage to face the whole
truth? To show, every single day with every single purchase we make, our values?
Will we recognize that this is the only way we can say no to supporting greedy
business practices?
Do we all have the courage to see the entirety of this
flawed system that WE have participated in for generations, that WE have
allowed to become so strong it seems impossible to change?
Most importantly, do we have the courage to dream a more
fair and equitable business model for our country, and to hold on to that dream
no matter what?
Dream big, my friends. It is so needed.
With respect,
Zardoya
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