Multiculturalism Hits Wall Street

I’ve been expecting this to happen. The one world promised by the government bureaucrats won’t work as long as there are different nations with different religions and therefore different cultures – and different moral codes. But not many expected multiculturalism to hit Wall Street.

Large Chinese companies listed on the NYSE are suspected for fraudulent accounting practices. Criminal charges may be brought against some of the companies. May be. No one knows what must be done. Much more is involved than what is seen on the surface.

For example, the fact that FBI and SEC can’t do much to procure the records – when it is about companies operating under another sovereign nation’s legislation. When the other nation is Communist China where large companies are simply economic branches of the government, and the government is determined – for ideological reasons – to protect them from prosecution in other countries. In fact, one auditor – the Shanghai arm of Deloitte – already refused to provide records about its client, Longtop Financial.

Asked about it, Robert Khuzami, director of enforcement at the SEC, replied,

Merely not providing records under these circumstances – as in the Deloitte case – would not likely rise to the level of criminal violation.

Blah, blah. Tell this to any company within the US that refuses to provide documentation to the IRS, SEC, FBI, ATF, or any other Federal agency. Tell this to any individual citizen who’s been audited by the IRS. Try it yourself. You will see if it won’t “rise to the level of criminal violation.”

The message is clear: double standard. If you are paying taxes and are “protected” by the American government, you will be punished for any refusal to provide records. If you are protected by the Chinese government and you pay taxes in China, you can cooks your books as much as you want, and still be listed on the NYSE and take the money of the American investors.

This is a very important news. It marks the end of Wall Street as we know it. So far, for all the decades of its existence, Wall Street was bound by a common ethics. Not everyone was ethical, not everyone obeyed the rules in every detail. But at least there was some common base, and the investors could count on a fairly high level of predictability. That common moral base – not the Federal agencies – provided the foundation. And that common moral base came from the Western Christian values that were built into the very foundation of the system. There was a moral consensus, and with all the imperfections of the system, it still worked.

But Wall Street bought into the liberal ideology of “one world,” no matter what. Chinese companies were allowed to register on the NYSE, and no consideration was given to the fact that because of the different cultural background, they may not be so willing to join the Western moral consensus. It turns out that the Chinese companies are taking advantage of that naivete. And it turns out that the Chinese government is not more moral than the companies that pay their taxes in China. A company can lie about its financial situation, and fake financial health to improve its marketability, and no one is there to protect the investors. And the FBI and the SEC are helpless.

The Europeans are discovering that multiculturalism doesn’t work in the cities of Germany, France, the Netherlands, Britain. They are losing their territory.

We are discovering that multiculturalism doesn’t work on Wall Street. Investors will be losing money.

May be this will wake us up to restore the Christian culture of our Founding Fathers, and reject the utopia of a multi-cultural, multi-religious world.



Tagged with 
About Bojidar Marinov
A Reformed missionary to his native Bulgaria for over 10 years, Bojidar preaches and teaches doctrines of the Reformation and a comprehensive Biblical worldview. Having founded Bulgarian Reformation Ministries in 2001, he and his team have translated over 30,000 pages of Christian literature about the application of the Law of God in every area of man’s life and society, and published those translations online for free. He has been active in the formation of the Libertarian movement in Bulgaria, a co-founder of the Bulgarian Society for Individual Liberty and its first chairman.
  • OHAS

    Get the Chinese out of our stock market ... you know, these Chinese sure look like capitalists rather than communists ... beating us at our own game ... dump our socialist "leader" ...

    • johnsnare

      Multiculturalism was a Liberal's dream come true. When will they ever learn, that there is no Utopia, or magic kingdom. They sit on their brains.

  • samtman

    I have now Idea where this article is going,

  • Rational Patriot

    The world can never be all Christian. Just as communism could not turn the world, neither can Christianity.

    • ChillaKilla

      @ (I)Rational Patriot -- Oh ye of little faith!
      Would you really like to bet against Jesus? At some point His words will ALL come to fruition --as much as ALL the prophecies He made-- and He did promise He would bring ALL His sheep under one fold. Didn't He?

  • Rational Patriot

    I would. Jesus' sheep aren't atheists or Muslims. Why? You can't force them to something they don't want. In the end it's up to them not Him.

    • BeReady

      1. The Muslims well force you Atheists ( that is what you sound like to me) to worship Allah the "Moon God" or you will go to meet him, minus your head. The book of Revelation is happening now! This is your shot across the bow, wake up. Jesus is coming back for his sheep, but the anti-Christ comes first. George soros just might be "'THE' ANTI-CHRIST" not a!

  • adrianvance

    Since Harry Truman bought Eleanor Roosevelt's argurment, "Nuclear weapons are too horrible to use," taught to her by Communist friends, the world thinks we are a pussy. And, to date they have been right. No wonder the Chinese think they can get away with it.

    The Two Minute Conservative at has political analysis, science and humor. Now in the top 3% on Kindle.
    My recent post The Biden Code


    get hte chinse out of wall street i dont like thier stock in those companies.

  • Texas Granny

    I won't by any stocks in Chinese companies.

  • Freemanmd

    It would be very easy to stop the Chinese or any country from “cooking their books”, if people in the U.S.would not buy their stocks. If no one in America owned their stocks they would probably go out of business before long, plus they would not be on the American Stock Exchange to start with. No audit no stocks sold in America. It should already be a rule or regulation.

    My recent post Why Punish China? Punish the Federal Government

    • BeReady

      One problem. Thanks to out of control spending (thanks to the corrupt establishment of inside the beltway crowd of both parties) China owns us through our debt. If they take all their marbles home, we are in big trouble! Thank the corrupt inside the beltway establishment and their brainwashed followers for getting us into this mess.