Sadly, financial scandals—national and international—are often a staple of the news media. People do some extraordinary things in their pursuit of money.

But how are business people who are Christians viewing recent evidence of greedy, dishonest, and unethical behavior in the world's money markets? We asked four of them with long experience in banking and finance in three different countries, for their thoughts on the subject.

SOUTH AFRICA

South African businessman Bob Tucker, who has been involved for many years in the provision of banking services and housing finance for low-income communities, told the Sentinel that he felt the recent dislocation and confusion in the international business community (caused in part by the collapse of the British investment firm Barings) were related to the uncompromising pursuit of profit and the belief that "good fortune" is a major determinant of success. In South Africa's case, this pursuit had, in the past, made business a comfortable handmaid of the apartheid system.

"Here in Johannesburg, we've been as guilty as anyone of regarding profit as an end justifying virtually any means," he said. "However, business people are now having to face the necessary transition of the South African economic system to one that serves the economic needs of the entire community. That demands a change in priorities, and even those who were formerly the most avaricious of business people are now deeply concerned about issues such as the Reconstruction and Development Program.

"I am reminded," he said, "of the story of Abraham and Lot, who saw future prosperity in very different terms when they parted ways. Lot saw his future in the fertile plains of the Jordan River; and, ultimately, sinful living brought about the destruction of his people in Sodom and Gomorrah.

"Abraham, however, challenged by God to lift up his eyes, saw future prosperity for himself and his people in a spiritual paradigm; and Bible students all know of the long history of 'the children of Abraham' [see Gen., chaps. 13, 14, 18, 19].

"Encouraged by Abraham's example," said Mr. Tucker, "I find it very useful to challenge my own mind-set on issues. Am I seeing things through a materialistic paradigm (or lens of the mind) that would lead me to believe that the ultimate value is personal 'happiness' in a sea of possessions, as did Lot? Or am I viewing life through a spiritual paradigm that helps me to focus on what is truly important and of real substance?

"Let me add," said Mr. Tucker, "that while the financial 'substance' of Barings appears to have been destroyed by some dubious investments in computerized securities trading markets, the firm's real substance—the institutional fabric built on trust, cooperation, and mutual respect between management and staff—has withstood the onslaught, and lives on."

HONG KONG

News reports from Hong Kong suggest that Asian economies and markets operate with far fewer rules and far less official scrutiny than those of the West. Lynde McCormick, a business journalist with television station CNBC in Hong Kong, drew our attention to the fact that insider trading in the stock market, which is illegal in the United States, is a way of life in Hong Kong.

So the question is: How does one translate a code or sense of ethics into such a business environment? And that question applies also to companies that cross national borders, and to individuals who never leave their home base but find themselves in ethical environments alien to their own.

Part of the answer may well lie in the current annual report of the multibillion-dollar U.S. company General Electric, which has enthusiastically embraced international business development. In the report, the company's chairman calls, among other things, for a receptivity to innovation and a willingness to discard traditional thinking, while retaining a total commitment to "a rigid set of core values," such as integrity.

"That report suggests to me," said Mr. McCormick, "that a deliberate affirmation of core values permits a creative response—one that can often stretch restrictive boundaries that previously defined success.

"The Bible story of the prophet Elisha and the widow strikes home," he said. "She and her sons were broke, and fearful of being taken into slavery. Elisha asked, '... what hast thou in the house?' and helped multiply her oil to meet their needs [see II Kings 4:1-7].

"Many people relate this story to the need for substance," said Mr. McCormick, "but I've found it helpful when faced with any problem whose solution seems beyond my abilities. It's a question appropriate when we face ethical challenges in business, when we are called on to do business in a different way, or when required to work with a person whose style seems alien, even hostile, to our own.

"When we start with a focus on the core values, we can develop a response that amplifies those values into human action that stretches us to more far-reaching evidence of success.

"Qualities such as honesty, charity, fairness," Mr. McCormick emphasized, "do not start with how you act, but who you are! If you recognize that honesty is an interlocking element of your identity, then the expression of that honesty becomes the goal in business dealings. Honesty—not dollars or yen rand or dinars—determines the value of a business transaction, and it cannot be slipped, negotiated, or swindled away from you."

UNITED STATES

The business editor of The Christian Science Monitor in Boston, David Francis, also observed that a high degree of honesty—based on the Golden Rule—has proved to be vital businesses. In societies where there is rampant corruption, foreign business interests are always reluctant to invest.

"In the United States," he told the Sentinel, "the cost of dishonesty is huge. Business must enlarge their security operations, do more thorough audits, take expensive measure to discourage shoplifting or employee theft, and deal with other crimes. Dishonesty was one costly element in the savings and loan scandal a few years ago.

"If a contract can't be trusted as valid, you don't want to do business," said Mr. Francis. Such pragmatic, but in a sense religious and moral, issues are holding up economic progress in Russia, parts of Africa, and several other countries. This confirms that honesty, integrity, diligence—all spiritual qualities—have great economic value to a nation.

"Since accurate economic forecasting is so difficult," added Mr. Francis, "economic policy-makers always stand in danger of making mistakes. I'm sure that these people would welcome help from the great source of wisdom and intelligence, God."

BLESSING ALL

Katharine Bullock, an international corporate bond analyst with a money management firm, believes that investors should be confident that they can be adequately rewarded for the investment strategies they pursue. "The majority of my business colleagues," she said, "have a strong desire to fulfill their fiduciary responsibility to the individuals who have entrusted their money to them.

"I think of the story of the tares and the Bible [see Matt., chap. 13]. While it may occasionally appear that the tares are winning the battle, in the longer run the investment community are being brought to the surface and destroyed. Now, don't get me wrong," added Ms. Bullock. "There's nothing wrong with making money! That's what my business is based on. But how you make the money is important." Of course, many would appreciate that how one uses the money is vital as well.

"The principles of good investing," Ms. Bullock continued, "are also principles of a Christian life—alertness, unselfishness, honesty, trustworthiness, treating others as you would yourself, and a resolve to be totally uncompromising in the pursuit of these principles.

"While it appears occasionally that there is luck involved," said Ms. Bullock, "I don't believe that luck or chance plays a real part in any long-term successful strategy.

"When looking at companies in which to invest, I look for a company that has a useful product or service and that's guided by good management. Such companies naturally attract capital from investors; and the investors who provide this capital have a right to—and will—benefit by the appreciation of that investment. What's more," she said, "that money can be made by benefiting the company—not at the expense of someone else. In this way, there is evidence that blesses one, must bless all."