Digital Ink Los Angeles

According to the NY Times article on February 1, 2009, ExxonMobil:

“…beat its own record for the highest profits ever recorded by any company, with net income rising 3 percent to $40.6 billion, thanks to surging oil prices. The company’s sales, more than $404 billion, exceeded the gross domestic product of 120 countries.“

With the onset of the worst domestic economy in 80 years, and plunging balance sheets at Wall Street banks, ExxonMobil managed to return “highest profits ever recorded by any company.” They must be great businessmen and astonishingly good at their jobs.

Bernie Madoff was arrested on December 11, 2008, for charges of securities fraud and outright theft, constituting the largest investor fraud ever perpetrated in history, to the tune of almost $65 billion.

Bernie Madoff had a keen business mind and was really good at his job: theft. On June 29, 2009, Madoff was sentenced to 150 years in prison, the maximum allowed. At the rate of ExxonMobil‘s current profit return, by the time Madoff gets out of jail, they’ll have profited $65 trillion from consumers. Profiteering is good. America was founded on this, right Mr. Gecko?

“The point is, ladies and gentleman, that greed, for lack of a better word, is good. Greed is right, greed works. Greed clarifies, cuts through, and captures the essence of the evolutionary spirit. Greed, in all of its forms; greed for life, for money, for love, knowledge has marked the upward surge of mankind. And greed, you mark my words, will not only save Teldar Paper, but that other malfunctioning corporation called the USA. Thank you very much.“
– Gordon Gecko, Wall Street (1987)

Pumping Profits or Ponzi Ploys, which is worse?