No Sex Please…we’re from Bay Street

January 25, 2010 at 8:18 pm Leave a comment

I see Canada’s financial wheelers and dealers are having trouble with backing a sure fire money maker. Its a company called Avid Life Media and this company happens to own a number of online dating sites including AshleyMadison.com which just happens to encourage its members to commit adultry. It seems the finance types feel they couldn’t get their clients to invest in such a firm that promotes “sin”. Now here’s the problem for me. On Bay Street investing professionals have no problem recommending their clients invest in defence industries whose products kill a lot of people (studies show the killing products of most defence industry firms end up killing far more civilians than combatants), or in the tobacco industry whose addictive product either sickens or kills those who use it, or in certain firms who support third world dictatorships in order to gain access to said countries to make money hand over fist. So, its alright to profit through investments that lead directly to killing, maiming and exploitation and repression but not to profit in a firm that encourages marital infidelity? Is there a priority of levels of “sin” in which investment is pursued or in which investments are discouraged? Is there a professional development course members of the investment industry take that helps them manoeuvre through these murky ethical minefields to decide which “sins” – products that kill, products/services that encourage sexual wildness, partnerships that support repression and exploitation – are OK to invest in and which are not? How is the financial moral compass calibrated in such matters?

Just asking.

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Entry filed under: banks, ethics, investments, Uncategorized.

The “War” on Banks Corporations and Politics

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