Sinners and Saints

Beware of slippery people offering ethical advice.

I'm at this investing forum the other day and some hot shot money managers and brokers start talking about the need for corporate accountability and CEOs who aren't crooks.

Now keep in mind these are the same guys whose firms freely touted stocks they knew were dogs. Now they're judging companies?

It's like that Washington hypocrisy all over again. Smarmy people judging smarmy people. It's just, well, smarmy.

If you're not a saint, don't act like one and leave the pious crap for those who really are.

Everyone in the financial community is so busy trying to look beyond reproach that they're not above fudging the truth.

A broker who says he saw all this coming, but didn't.

A money manager who says there was something fishy about Martha Stewart, but freely recommended her stock.

An investing pro who says it's time to rein in these "absurd" options packages for CEOs, but neglects to mention that he just pocketed close to $20 million last year in an option windfall himself.

I've said it before, I'll say it again: I won't offer you dietary advice, if you don't offer me ethical advice.

Because I'm no Jack LaLanne and you're no Mother Teresa.

Let honorable men judge those who are not. Because the kicker is, they won't. They won't say it, or judge it, or preach it. They'll live it.

There is honor among the decent. There is no honor among thieves.

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