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Self regulation: Then should auto manufacturers have issued driver's licenses for their cars?

 
 
Reply Sun 26 Oct, 2008 05:07 pm
When the US auto industry got started luckily Ford, Billy Durant, Packard, etc. did not bother issuing driver's licenses for their cars as they could have made more money by selling licenses and insurance. All trades and professions require of their members a license or certification to practise the trade or profession - excluding the world's oldest profession. Lawyers need to pass the bar exam; doctors in addition to exams need an internship; teachers and so on. But there is a profession that affects everybody when they screw up yet there doesn't appear to be any certification required of them in going about their business namely financial agents who sell stocks, bonds, etc. I have been told some unscrupulous agents deliberately shift the stocks around from portfolios of elderly clients to earn the commission fees with little or no benefit to the clients. The financial industry is filled with fraudent practices as seen with the recent credit crunch. Maybe it is time to have these people get a licence or certification with an ethics clause attached to the license so that if they are involved with any unehical behavior they could lose their license or certifcation and kicked out of the financial industry.
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Type: Question • Score: 0 • Views: 1,131 • Replies: 7
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hawkeye10
 
  0  
Reply Sun 26 Oct, 2008 05:10 pm
@talk72000,
the Oracle last week said that he was wrong about self regulation, that it does not work.
talk72000
 
  1  
Reply Sun 26 Oct, 2008 05:45 pm
@hawkeye10,
I think the financial industry needs certification for its members. They are playing with our money (in the banks) and no one seems to monitor their activities.
hawkeye10
 
  1  
Reply Sun 26 Oct, 2008 06:16 pm
@talk72000,
ethics training?
talk72000
 
  1  
Reply Sun 26 Oct, 2008 07:27 pm
@hawkeye10,
A handbook of ethics to be read and studied and tested on. Some professions require it e.g. to be a P.E. (Professional Engineer).
hawkeye10
 
  1  
Reply Sun 26 Oct, 2008 07:38 pm
@talk72000,
a better comparison is realtors, but your idea makes sense to me.
0 Replies
 
Merry Andrew
 
  1  
Reply Sun 26 Oct, 2008 08:13 pm
@hawkeye10,
This is somewhat off topic but I'd never let that stand in the way of a good story.

Back in 1992, when the USSR had just gone out of business and some of its former "republics" had re-establlished their independence, a group of educators in the field of business administration and finance in the Republic of Latvia came to the USA to take a look at how we educate future entrepreneurs here. The trip was sponsored by the US government. As a contractor with the US State Dept.'s Office of Language Services, I was assigned as escort/interpreter to the group. One of our stops on the agenda was at the Harvard Business School in Boston. The Latvian delegation was to sit in on a class in business ethics for graduate students.

The Latvians , looking at the day's schedule, found the course title amusing, even bizarre. In their understanding of American business enterprises, the expression "business ethics" constituted an oxymoron, plain and simple.
talk72000
 
  1  
Reply Sat 8 Nov, 2008 02:27 am
@Merry Andrew,
MBA = Master of Business Administration or Master of Business Abuse/Affliction. They are teaching executives to park money in multinational branches and outsourcing without regard for the country or workers.
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