I was basically coerced into joining, because if you pay $X to join, registration for IEEE conferences goes down by a much, much greater number.
Presumably, they have it set up this way because they ultimately make more money by selling your information to marketers (which they do).
So I would say that if the IEEE has a Code of Conduct, it completely lacks all legitimacy.
I hope some important IEEE people take note of this situation and correct it. Otherwise, I hope a more ethical organiziation arises that relegates IEEE to the dustbin.
It's like the way the notion of Conflict of Interest has been marginalized as illustrated by no-bid contracts awarded to corporations which have strong ties to high level government employees.
http://www.cs.cornell.edu/gries/howbushoperates/haliburton.h...
http://www.cbsnews.com/2100-250_162-575356.html
It's like hiring a former Monsanto lobbyist to be the head of the FDA. It is objectionable.
Just because some (mostly) Saudi nationals allegedly hijacked some airplanes 12 years ago that doesn't mean we have to discard our ideals in the name of some fictional "war" on an ideology.