One of my customers was nursing home medical supply company. I did all of their printing. Forms, invoices, labels, etc. It was a successful company that the owner had built up himself from scratch to 5 employees over 20 years.
He had hired a former Wall Street banker to run the financial end of his company and take it to the next level.
The company continued to grow for two years and then one day, nothing.
I hadn't gotten any orders for a while or calls so I went to visit him. I was shocked at what I discovered.
The new financial officer had embezzled several million from the company, putting it into bankruptcy. He took off on the run and hadn't been found as of yet.
The owner was devastated. The office was in shambles. All five employees were out of jobs. He had lost over a hundred pounds, his wife had divorced him and everything he worked for over 20+ years was gone. He was close to being suicidal.
I read later that they caught the guy in Mexico but by then it was too late for the owner and his company.
All because of the greed of one man.
I believe in all seriousness that you need an ethical bypass to work on Wall Street. It is both convenient, and I believe correct, to just discriminate against putting anyone with that experience anywhere near other people’s money.
Jon Corzine. Full stop, and he’s just the high profile version. Warren Buffet.