Disempowerment and Dishonour
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22 January 2011
Seeking power over others for self- gain is the admission of powerlessness. It is heartless and harmful. People and organisations who seek to mislead, deceive and profit from public ignorance, not only hurt others, they damage themselves which can prove very costly in human and financial terms, as several news items this week confirm.
The Financial Services Authority fined Barclays Bank £7.7 million. The bank will pay up to £60 million in compensation to many customers who bought into two investment funds. The bank targeted clients who were retired or close to retirement. Poor advice was given to them. As a result, many individuals were exposed to more risk than they understood and lost their money when the financial crisis struck. In 2008, when the bank identified that these sales were inappropriate, it did not take any action to stop the practice. Barclays concedes that they let customers down.Allegations about illegal hacking into the phones of various well known individuals by reporters of News of The World caused Andy Coulson, the former editor of the paper, to resign as Director of Communications to the Prime Minister. Whilst Mr Coulson denies any knowledge or involvement in such practises, allegations that he was involved continue. The royal editor, Clive Goodman, was jailed for hacking into the phones of members of the royal household in 2007. It is reported that News International made confidential settlements to Max Clifford and Gordon Taylor to keep allegations of illegal phone tapping out of the public eye.
These are examples of the madness of minds not working in tandem with the heart. No one wins in situations like this. The less conspicuous casualties are the loss of honour, integrity, self-respect and of course, True Power.
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