Posted on 07/10/2012 2:17:01 PM PDT by Kartographer
If the ancient Greek philosopher Diogenes were to go out with his lantern in search of an honest many today, a survey of Wall Street executives on workplace conduct suggests he might have to look elsewhere. A quarter of Wall Street executives see wrongdoing as a key to success, according to a survey by whistle-blower law firm Labaton Sucharow released on Tuesday. In a survey of 500 senior executives in the United States and the UK, 26 per cent of respondents said they had observed or had first-hand knowledge of wrongdoing in the workplace.
(Excerpt) Read more at dailymail.co.uk ...
Exculpatory?
You’re the one who said inaction is their only alternative to cheating.
So an honest broker chooses inaction. Have you looked at your IRA/401k results lately? It looks to me like a lot are choosing inaction.
I wonder what is happening to us when morality in business is considered just another concept to be accepted or rejected.
What is happening, at least in part, is that there is a decreasing connection between the law and morality. Much new legislation, Dodd-Frank for example, is “gotcha” based and not morally based.
Don’t get me started.
I feel a rant of epic proportions boiling up from my guts on this topic.
The poor poor ‘bankster’ must steal as they have no choice the Government regulations are so that the must steal their clients money to comply.
One a-hole goes nuts, and so we should tie up an entire industry in red tape and bankrupt America???
No doubt you feel, also, that one shooter goes crazy and we should ban all firearms.
Sorry, not buying your line of illogic.
It isn’t just one! What about MF Global? What about the on going Libor scandle? What about this from Ann Barnhardt?
So you think that PFGBest is the first time that the NFA has inexplicably “missed” hundreds of millions of dollars from a non-clearing FCM that they had under their auditing auspices?
Oh, you would be very, very wrong. Let me tell you the tale of Sentinel Management Group, a non-clearing FCM that operated as a hedge fund for other FCMs, that was a Ponzi scheme which when it finally collapsed in 2007, was “missing” $500 million.
The NFA’s own report on Sentinel, for which the NFA was the auditing body, found:
“Sentinel failed to maintain adequate books and records, including records to demonstrate the location” of some accounts.
Huh. How is that possible, given that the NFA auditors had signed off on every audit ever performed of Sentinel, since the NFA was itself the auditing body?
Apparently, just as with PFGBest, the NFA was grossly, grossly negligent in its due diligence - almost certainly intentionally - and then mid-level robosigners who were neither competent nor possessing any real knowledge of Sentinel’s books were told to sign off on the Sentinel audits.
More at:
You’ve clearly got a bee in your bonnet.
Why don’t you pour yourself out a tall, cold one; sit down in your favorite chair, take a few deep breaths, and relax.
I don’t like thieves I guess, I’m funny that way but looks like I am in the minority about my dislike of thieves on FR.
By the way I posted this because you r post talking about just ‘One A-Hole’ it’s not just one I could make a list in fact I am betting you could make a list if you wanted to.
And this is just getting started the ‘paint’ is peeling and what’s going to be found is a lot of rotten wood underneath a lot more of these financial houses.
I like to know what all these FReepers who insist it’s not out right thievery, but government regulations that’s causing all these peoples money to disappear down the rabbit hole. I like to tell me what they would tell the lady in Ann Barnhardt’s article:
THE PEASANTS ARE SHARPENING THEIR PITCHFORKS
“I want roasted balls on a plate at this point. Preferably roasted while still on a living person... Without anesthesia.”
“One” a-hole?
You’ve clearly been living under a rock for the last five years.
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