The articles Callahan talks about the cheating culture in America. As an analyst, Blodget was leant on by bankers to saying the things which seem to be right about important clients stocks. Since he was the top analyst of Merrill Lynch, it is vital to note that he caved too much pressure from the company to hyping the stocks due to his role. This is important to note from the chapter because, seemingly, the well-known analysts are the ones that are used for indirectly looting from people. The situation was far more corrupt because, Blodget, was not talking to the insiders but to the public, on television and even his recommendations had be heeded by the brokers of Merrill Lynch at a nationwide level as he offered counsel on where to invest. Blodget was deep into the cheating culture and he went along with the flow. This point is important as it shows how a well-known analyst who is also trusted by companies is used in order to convince clients to invest yet at the same time he was being corrupt. It indicates how vicious and selfish they are. Their interest is for their personal gain and they do not mind what happens later to the clients, whether they are stolen from or not.
The other important point to note is that many Americans do cheat in their day-to-day livelihoods in many areas such as tax evasion, providing false resumes, obtaining fake diagnosis for diseases, among others. To make matters worse is the fact that no one even feels guilty about the matter. This is because many people do it; or rather there is that stereotype that everyone is doing it, which has nurtured the cheating culture. The cheating cultured does bring along the moral crisis which reflects deeply on the social and economic problems that do exist in the society. Very many people do break rules so as to be able to get ahead financially, professionally and even academically. Even though one would not literally go and shop lift, many other crimes are done through cheating such as lying to clients, like the case of Blodget, ripping off of the insurance clients, misleading investors, among others. This point is very paramount as it reflects on the notion of cheating, which eventually has effects to the social and economic aspect of the country, even though, he people are so much into cheating that they even forget the consequences that it might have, eventually.
Lastly, the other important point from the chapter is that cheating is not something that has started just the other day, but instead, it has been there since early human society and is still being natured in todays society. Interestingly, the United Sates had already distinguished itself as a home that was natural to that urge of cheating. From time in history titans did cheat each other and cheated and further even destroyed their competitors that were much smaller. This point is very important as it acknowledges the fact that even though cheating is very common and no one since to be having a problem with that, since it is becoming part of the American culture, it has been a part of Americans for a long time and dealing with it might be a much bigger challenge.
Interestingly, ethics are not valued at all by most of the people. This is because the world has become a competitive economy where everyone wants to be successful and job security is not an issue to be taken for granted. It is even more amazing that even a doctor, who is coded by ethical entities; do accept bribes since their incomes have been squeezed. Among all the reason for cheating Callahan finds only four of them to be the most compelling. First, is new pressure. The competition in the economic entity, job security and success are on the forefront of everyones ambition and this leads to cheating. Students, lawyers, doctors, parents, cab drivers, like literally everyone is cheating. The second reason is the bigger rewards for winning. Since the winners prizes have gone up, the people have even become more willing to do all it takes so as to be a winner. The third reason is temptation. There are many temptations to cheat with weaker safeguards against wrongdoings. Finally, the other reason for cheating is the trickle-down corruption. Each and every person is trying to make ends meet and if they do not get enough they will get deep into corruption so as to be able to afford what it is they want.
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