How common do you think unethical or even illegal behavior is in finance and/or corporate America?
https://www.newyorker.com/magazine/2022/01/24/jor…
This week's feature on whistleblowers from the New Yorker:
"One reason for this urgency is the sheer abundance of corporate malfeasance. After Thomas established his whistle-blowing practice, at the law firm Labaton Sucharow, he commissioned an anonymous survey of finance professionals, conducted by the University of Notre Dame. The findings illuminate a rampant ethical permissiveness: more than a third of respondents who have salaries of half a million dollars or more say that they have witnessed, or have firsthand knowledge of, wrongdoing in the workplace; nearly twenty per cent of respondents “feel financial-services professionals must at least sometimes engage in illegal or unethical activity to be successful.” The S.E.C. established the whistle-blower program partly so that people who witnessed misbehavior would have a reliable mechanism for reporting it. The agency had ignored the forensic accountant Harry Markopolos when he sounded the alarm about Bernie Madoff’s Ponzi scheme. “Huge percentages of people know stuff,” Thomas told me. “They’re just not speaking up.” The JPMorgan whistle-blower said, “There were a dozen people I worked with who knew the same information I knew and still didn’t report anything.”
That seems very high percentage of people. Thoughts?
It´s only a crime if you get caught, buddy.
And even if you get caught, it's only a crime if you're found guilty.
Exactly. Anything the state don´t find out is between you and God only.
Don't whistleblow anyone if you don't want to get killed by your UPS delivery man.
I mean I would suspect it already starts when you started cheating on math tests in HS with your buddies
Because generally white collar crime is not criminally prosecuted or rarely results in jail time it is effectively a fine to pay for illegal behavior. If the benefit to the bottom line outweighs the effective fine of that behavior then it makes business sense to participate in it. That’s why it’s such a rampant issue under our current system.
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