It’s Easier to Make Money if You’re Bad
A study released July 10 by Labaton Sucharow found that just 30% surveyed said regulators were doing an effective job policing the financial industry.
Nearly one in three said their bonus plan was an incentive to cheat, 24% said it was necessary to be unethical to succeed in finance, and 16% said they would engage in insider trading if they knew they would get away with it.
The law firm concluded the results were “startling data on corporate ethics, the regulatory landscape, and individuals’ willingness to blow the whistle on wrongdoing.”
Wall Street has really no incentive to be good. Let’s all groan at once: GROAN.