In my humble opinion this is the main cause of this global financial crisis.
What can we learn from this crisis? Well, I think the main issue here is that each and every person needs to ask him or her self: What is my real reason for starting a business? Is it my obsession for money? Or am I trying to make this world a better place by bringing quality services and products to the marketplace? Obviously the money issue is a critical ingredient here but if your focus is only on the money - this actually may end up `blinding` you from seeing the real purpose in your business.
Over the weekend I was reading the newspapers. Now if you really want something that will destroy your weekend - by all means read the paper. Its really depressing! In any case I was reading an interview with this former CEO who was running a multi- million dollar company and when the markets started to crash a few weeks ago....so did his company. This CEO was talking about how when times were good before the crash - "the money was flowing in from every direction" ...and what did they do? They partied! and oh boy did they party. The company leadership would take this money and pish it out on parties....but no fear cause "the money was flowing in from every directions". This uncontrolled behavior ripped the guts out of his company.
Is there hope? Of course there is. There is hope when people will begin to understand that its honesty, business ethics, integrity, truth and social responsibility - That builds a business and a strong economy.