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Narrative Large-Scale Corporate Scandals Like Term Paper

¶ … Narrative

Large-scale corporate scandals like Enron not only irk me for the ethical transgressions involved but also because they reveal the truth behind the cliche "The rich get richer, the poor get poorer." Senior executives in control of massive amounts of money wield the greatest power in our culture. When they are busted for white-collar crimes their lives aren't ruined; even though men like Kenneth Lay drained the life savings from Enron shareholders he will never need to worry for money either from bank loans or informal investment sources. Yet people like me, who have conducted business with ethical and personal integrity, are repeatedly denied small loans for small business development.

The United States purports to be a nation with "liberty and justice for all" but the economically and socially advantaged find no truth in that cliche. I have applied for loans from several major banks including American West, Capital One, and Dell Financial Services. Their advertisements led me to believe that I would be warmly welcomed as a loan recipient. I was turned out the door by everyone because I have not yet established business credit. How can I establish business credit before I start a business? The paradox seems to elude American politicians and policy makers.

The rich get richer and the poor get poorer because we who are socially disadvantaged are denied access to the upper echelons of the capitalist system. We are told that unless we have some money to begin with, we can't hope to make more money in the future. Forget about the rages-to-riches stories; they are cliches too. What banks earn from my small personal savings serve only to bolster the pockets of the corporate financiers, who turn around and deny people like me loans in the amount that they spend on one shopping spree.

Ultimately Dun and Bradstreet helped me set up a business credit file, which will slowly help me build my business credibility. In due time, I will be able to obtain a business credit account with Wells Fargo too. Both endeavors are funded out of my pocket. The American finance system serves the needs of those who least need it, while the individuals who need it most get left out in the cold.

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