Shocking Things Wall Street Financiers Say Off the Record About Their Bloated, Corrupt Industry
the Record About Their Bloated, Corrupt Industry
troubling and consistent finding throughout the survey is that Wall Street’s
future leaders–the young professionals who will one day assume control of the
trillions of dollars that the industry manages—have lost their moral compass,
accept corporate wrongdoing as a necessary evil and fear reporting this
misconduct.”
screwing your clients and covering up crimes is a way of life on Wall Street.
The shock is not that cheating is going on. We all know that. The shock is that
these financiers would actually admit it on a survey. This should tell us that
the Wall Street culture is so brazenly corrupt, so confident of not getting
caught, so certain that a passive public won’t fight back that those surveyed
didn’t even bother to lie about the fact that they were living, breathing
sociopaths.
findings of this sample of 250 traders, portfolio managers, investment bankers,
hedge fund professionals, financial analysts, investment advisors, asset
managers and stock brokers.
services professionals likely would engage in insider trading to make $10
million… if they wouldn’t get arrested. That figure surges to 38% for
individuals with 10 years or less in the industry.”
services professionals feel that the financial services industry does not put
clients’ interests first.” They do it, so we have to do it
too. “More than half of respondents–52%–felt it was likely that their
competitors have engaged in unethical or illegal activity to gain an edge in
the market; 24% felt employees at their own company likely have engaged in
misconduct to get ahead.”
cheating.
widespread in the financial services industry; 23% of respondents
indicated that they had observed or had firsthand knowledge of wrongdoing
in the workplace.”
organization, you have to be a criminal.
36% of respondents with 10 years or less experience in the industry believed
financial services professionals may have to engage in misconduct to get
ahead.”
you cheat.
that if leaders of their organization suspected that a top performer was
earning large profits from insider trading, they likely would ignore the
problem. More alarming, 15% of professionals in the industry believed that if
leaders of their organization learned that a top performer had engaged in
insider trading, they were unlikely to report that crime to law enforcement or
regulatory authorities.”
columnist Jonathan Weil comes to Wall Street’s defense by calling the survey a “worthless smear” because it’s not a scientific sample. But
“scientific” or not, he has no explanation at all for why sizable percentages
of these 250 respondents are so ethically challenged.)
hedge funds criminal enterprises?
financial elites, you would expect bad things to happen. The list of high
crimes and misdemeanors is mind boggling, and growing every day.
permission from: AlterNet
NESARA- Restore America – Galactic News
Source: http://nesaranews.blogspot.com/2013/07/shocking-things-wall-street-financiers.html
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