The cardinal objective for writing this article is to define, analyze, and describe a profile of the popular global economical pathways of corruption, coercion, deception, compulsion, corrosion, and fraud within the boundaries of the modern financial free market economy. The second objective is related to examining the state of economy in relationship with observable truthfulness in ethical and moral mandates in the contemporary free market economy. The third objective is to identify the greedy appetite of kleptocratic financiers' operations that take advantage of the Security Exchange Commission's bureaucratic negligence by not enforcing the law in the stock market. In addition, this article is devoted to defining the notion of kleptocracy, plutocracy, kakistocracy, and bureaucracy in conjunction with the philosophies of quality of life, ethical, moral, and legal implications concerning investors in the stock market within the contextual boundaries of truthful global free market economy. As a moralist and ethicist, I need to attest that we live in a global village in which several aligned invisible societal hands have emerged through corrupted pathways of alliances to gain illegitimate profits from investors and consumers. Among different types of corruptions, the most popular harmful pathways of unethical and immoral techniques is money laundering. Among all types of unethical and immoral techniques, I have identified thirteen types of money aundering. Namely: (J) smuggling, (2) legitimate businesses, (3) foreign currency exchange brokers, (4) daisy chaining businesses, (5) brokerage houses, (6) double-invoicing, (7) reverse flip, (8) loan back, (9) underground banking, (J 0) sex industry, (J 1) havala (popular in the Asian and Middle Eastern countries), (J 2) illegal sale of wildlife, and (J 3) oil and diamond smuggling.
Keywords: Kleptocracy, Plutocracy, Kakistocracy, Bureaucracy; Maddoffian Ponzi schemers
There is something inherently bothering the conscience judgments of ethicists and moralists concerning the thematic analytical aspirations of the 21st century free market economy. In reality, it is about "ethical sentiments and the world financial crisis." Who is responsible for this messy global economy and why? Answering the above questions, among all other several causes and effects, requires naming few contemporary infamous Madoffian Ponzi financial schemers as mobsters, fraudsters, gangsters, lawyers, fraudsters, business hoodwinkers, and bankrs such as Bernard Madoff who committed fraud worth $65 billion, the CEO of the Antigua-based Stanford International Bank, R. Allen Stanford, who committed fraud worth $8 Billion, the Ponzi schemer South Florida lawyer who pocketed more than $1 billion from investors in the U. S. and abroad, the hedge fund broker, Michael Berger, who committed fraud worth $20 Million, the Finn Fund CEO, Mike Fanghella, who embezzled $100 million, the Friedlander's Jupiter CEO, Iris Friedlander International Funds that was associated with the KPMG's Group which several million dollars, the hedge fund manager of Maricopa Investment Fund, David Mobley, who committed fraud worth $120 million, and the infamous lawyer Marc Dreir's scam (a so-called mini Madoff), a Ponzi schemer, who embezzled $400 million. Dreir with law degrees from Yale and Harvard desired, like the Enron CEO Kenneth Lay, who was the United States Chairman of the Energy Commission in the first term of President George W. Bush's administration, to be a distinguishable billionaire by fraud through book-cooking strategies in the energy industry. In addition, The White House reports billions of improper payments in 2009. Cohen (2009) indicated: "The 2009 total for improper payments - from outright fraud to misdirected reimbursements due to factors such as an illegible doctor's signatures - was a 37.5 percent increase over the $72 billion in 2008, according to figures provided by Peter Orszag, director of the White House Office of Management and Budget. …