Businessman Randy Treadwell violated several principle of good business, and showed no responsibility to his investors. He showed no responsibility to anyone but his partner, Rick Sluter. Both Sluter and Treadwell lacked principles such as integrity, truthfulness, fairness, human dignity, participation, social responsibility, and love. To simplify matters, Treadwell will be the focus of this essay, as he was the leader of the scam.
First, Treadwell lied to his investors, telling them that they would receive enormous returns on their investments. Eventually, Treadwell was able to con people out of a total of 65 million dollars. Treadwell was dishonest with his investors, and used his persuasive skills to win their confidence. Once he was able to win his investors' confidence, they wrote checks to his dummy corporation, Qwest International. For example, he used his "sales talents" to convince very skeptical people. Part of the lack of integrity that Treadwell showed was providing fake statements to their investors.
Treadwell was not truthful with his investors. He had no training in investment programs, and never divulged those shortcomings to his clients. He also guaranteed large monthly returns, but these returns never occurred. Treadwell used a combination of financial terminology to make his sales pitch sound convincing, making it appear that he had expertise in the investment industry.
Treadwell lacked dignity insofar as he stooped to a level of lying and deceit to reel in his clients. Once customers asked for money, he could provide only a few with a return on their cash investment. This is called a Ponzi Scheme. Treadwell did not allow his investors to know anything about where their money was going. He did not allow them to participate in making informed decisions about their investments. There is no sense of social responsibility in a business that is a Ponzi Scheme. Treadwell also lured more than 90 senior representatives (who were paid some money) to sell to potential investors. This is also an example of deceit. Ultimately, there is no love when there is only the love of money. This is all that Treadwell was concerned with. The main victims were given only some money to make his scam appear more legitimate.
Various investors, such as Martha Rhodes, could not use their cash cards to withdraw their own money. They were given promises, but the promises never came true -- another example of zero social responsibility. The Ponzi Scheme is about "robbing Peter to pay Paul."
This kind of behavior is not only illegal, but it violates a universal principle of love. By deceiving others in the name of greed, there is an absence of love. Treadwell did not show any conscience, or care about the people he stole from. This is socially irresponsible, and also contributes to a world that is already very loveless.
If Treadwell exercised any ethical principles, he would not have started his business at all. If he had used ethical principles, he would have learned about real investing, instead of lying about his companies' success. His investors should have investigated Treadwell's history, as well as the claims that Treadwell made. In order to avoid being stolen from, investors who were scammed should have used common sense as well -- by doing research about the stock market and banking, so that they would be prepared for any type of sales pitch by Treadwell. Finally, it was greed on the part of both the investors and Treadwell that blinded them to their irrational actions.
Good Greed Movie Review Example
Type of paper: Movie Review
Topic: Finance, Investment, Stock Market, Money, Business, Love, Responsibility, Principles
Pages: 2
Words: 600
Published: 03/19/2020
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