Wall Street Professional Survey Reveals Widespread Misconduct, Accepta

[....lybob]

An Industry in Crisis

 

According to the independent survey, 52% of the respondents believed that their competitors engaged in illegal or unethical behavior while 24% felt employees in their own company had engaged in similar misconduct. An astonishing 23% reported that they had observed or had first-hand knowledge of wrongdoing in the workplace and 29% believed that financial services professionals may need to engage in illegal or unethical behavior to be successful. An alarming 28% felt the industry does not put the interests of clients first and 24% admitted they would engage in insider trading if they could get away with it. Surprisingly, in response to each of these questions, younger professionals on Wall Street were significantly more likely to be aware, accept and engage in illegal or unethical conduct than their more senior colleagues.

 

"Many in the financial services industry appear to have lost their moral compass, and younger professionals pose the greatest threat to investors," said Jordan Thomas, partner and Chair of the Whistleblower Representation Practice at Labaton Sucharow. "Wall Street needs to take the first step toward recovery and admit that it has a corporate ethics problem, or Main Street should brace itself for more scandals."

 

http://www.labaton.com/en/about/press/Wall-Street-Professional-Survey-Reveals-Widespread-Misconduct.cfm

[ExiledInIllinois]

And in other news: Water is still wet.

[/dev/null]

While we're on the topic of a poll of people scamming the system

http://washingtonexaminer.com/exography-many-disability-recipients-admit-they-could-work/article/2533626

[ExiledInIllinois]

While we're on the topic of a poll of people scamming the system

http://washingtonexaminer.com/exography-many-disability-recipients-admit-they-could-work/article/2533626

 

And in other news: Water is wet.

[\GoBillsInDallas/]

I think that the only solution to this problem is to do a thorough investigation, led by well-compenstated government employees with generous benefits.

[Chef Jim]

http://www.labaton.c...-Misconduct.cfm

 

Interesting numbers. 52% feel their competitors engaged in illegal or unethincal behavior but when it came to their own firms or observing illegal or unethical behavior (actual behavior vs what they think the competition is doing) all of a sudden drops to 23%. Still a number that is way too high in my opion but does not justify the title of the article and the title of this thread as Widespread.

[DC Tom]

Interesting numbers. 52% feel their competitors engaged in illegal or unethincal behavior but when it came to their own firms or observing illegal or unethical behavior (actual behavior vs what they think the competition is doing) all of a sudden drops to 23%. Still a number that is way too high in my opion but does not justify the title of the article and the title of this thread as Widespread.

 

It does if you're lybob.

 

Of course, a statement savings account justifies that article if you're lybob.

[John Adams]

Interesting numbers. 52% feel their competitors engaged in illegal or unethincal behavior but when it came to their own firms or observing illegal or unethical behavior (actual behavior vs what they think the competition is doing) all of a sudden drops to 23%. Still a number that is way too high in my opion but does not justify the title of the article and the title of this thread as Widespread.

 

No? "An astonishing 23% reported that they had observed or had first-hand knowledge of wrongdoing in the workplace..." sounds pretty widespread.The source and methodology could be bunk but the headline follows the numbers.

Edited August 5, 2013 by John Adams