Oct 15, 2021
Let’s be honest, we’re a society plagued with double standards. There’s an arbitrary application of accountability. We all know we should have a consistent and mechanical system to hold one another responsible and laws are crafted in that context. The problem is what to do when the ‘law’ broken is a law of ethics and the offense took place in the past.
Earlier this week, Jon Gruden, Head Coach of the Las Vegas Raiders, resigned his position following the release of emails filled with repugnant words. It should be noted, those emails were discovered as a part of an investigation into an entirely different team, the Washington Football Team. At the moment, we don’t know what else will emerge from the investigation and others will surely have their actions exposed, but Gruden’s the only one that’s been outed, for now.
To be clear, Gruden should have resigned or been fired. What he did was reprehensible. At the same time, someone needs to explain why no CEO of banks that nearly destroyed the global economy in 2008 faced similar consequences. Why is no one from the Sachler family or Purdue Pharma, who created an opioid crisis that killed countless people and made life miserable for people who actually have chronic pain and now have to jump over hurdles proving their pain in order to get medication they actually need, in jail? Perhaps none of them broke any criminal laws, but they certainly broke ethical ones.
One of the major obstacles in applying an accountability standard is deciding how far back to go in someone’s past. Obviously, someone who murdered someone else 20, 30 or even 60 years ago should face consequences. However, is it fair to hold you or me accountable for something we said 20, 30 or 60 years ago? Surely we’ve all said something we regret. That isn’t to say we shouldn’t own what was said, but perhaps we should leave room for the possibility we’ve matured since.
Drawing that demarcation line between where immature mistakes end and professional repercussions begin will be inherently subjective and only further complicated by our evolving ethical standards. Hopefully, age doesn’t stop us from maturing and learning. Perhaps we should all be given the benefit of the doubt and what was said yesterday shouldn’t be held against us today. Each day a new clean slate. Or maybe we should use an age which society grants us privileges such as driving, voting or drinking.
In the case of Gruden, he should have lost his job. His comments were not the mistake of being young and immature. He was an adult and accomplished professional. Hold him responsible. At the same time, let’s at least acknowledge we need to do a better job at equally applying accountability standards.
Written by Dylan Ratigan and Josh Fabian
Options involve risk and are not suitable for all investors. Please read Characteristics and Risks of Standardized Options before deciding to invest in options.
Sep 17, 2021
Few would argue our greatest political and economic threat is China. Their growth has been nothing short of stratospheric (if we’re to take their economic reports at their word). Yet for all their successes and opportunities, they really can’t help but shoot themselves in the foot.
tastytrade content is provided solely by tastytrade, Inc. (“tastytrade”) and is for informational and educational purposes only. It is not, nor is it intended to be, trading or investment advice or a recommendation that any security, futures contract, transaction or investment strategy is suitable for any person. Trading securities can involve high risk and the loss of any funds invested. tastytrade, through its content, financial programming or otherwise, does not provide investment or financial advice or make investment recommendations. Investment information provided may not be appropriate for all investors, and is provided without respect to individual investor financial sophistication, financial situation, investing time horizon or risk tolerance. tastytrade is not in the business of transacting securities trades, nor does it direct client commodity accounts or give commodity trading advice tailored to any particular client’s situation or investment objectives. Supporting documentation for any claims (including claims made on behalf of options programs), comparison, statistics, or other technical data, if applicable, will be supplied upon request. tastytrade is not a licensed financial advisor, registered investment advisor, or a registered broker-dealer. Options, futures and futures options are not suitable for all investors. Prior to trading securities products, please read the Characteristics and Risks of Standardized Options and the Risk Disclosure for Futures and Options found on tastyworks.com.
tastytrade is a trademark/servicemark owned by tastytrade.
tastyworks, Inc. ("tastyworks") is a registered broker-dealer and member of FINRA, NFA and SIPC. tastyworks offers self-directed brokerage accounts to its customers. tastyworks does not give financial or trading advice nor does it make investment recommendations. You alone are responsible for making your investment and trading decisions and for evaluating the merits and risks associated with the use of tastyworks’ systems, services or products. tastyworks is a wholly owned subsidiary of tastytrade, Inc (“tastytrade”).
tastyworks, Inc. (“tastyworks”) has entered into a Marketing Agreement with tastytrade (“Marketing Agent”) whereby tastyworks pays compensation to Marketing Agent to recommend tastyworks’ brokerage services. The existence of this Marketing Agreement should not be deemed as an endorsement or recommendation of Marketing Agent by tastyworks. tastytrade is the parent company of tastyworks. tastyworks and Marketing Agent are separate entities with their own products and services. tastytrade has different privacy policies than tastyworks.
Quiet Foundation, Inc. (“Quiet Foundation”) is a wholly-owned subsidiary of tastytrade The information on quietfoundation.com is intended for U.S. residents only. All investing involves the risk of loss. Past performance is not a guarantee of future results. Quiet Foundation does not make suitability determinations, nor does it make investment recommendations. You alone are responsible for making your investment and trading decisions and for evaluating the merits and risks associated with the use of Quiet Foundation’s systems, services or products.
Small Exchange, Inc. is a Designated Contract Market registered with the U.S. Commodity Futures Trading Commission. The information on this site should be considered general information and not in any case as a recommendation or advice concerning investment decisions. The reader itself is responsible for the risks associated with an investment decision based on the information stated in this material in light of his or her specific circumstances. The information on this website is for informational purposes only, and does not contend to address the financial objectives, situation, or specific needs of any individual investor. Trading in derivatives and other financial instruments involves risk, please read the Risk Disclosure Statement for Futures and Options. tastytrade is an investor in Small Exchange, Inc.