Bankers still misbehaving ?

Wall Street

Wall Street has changed. But perhaps not as much as you would think.

The New York Times reports that the past several years have been filled with headline-grabbing legal settlements by financial services firms — $11bn here, $5bn there.

Most of them involved conduct that took place before the 2008 crisis. Virtually every major Wall Street firm has pledged to redouble its efforts to instill an ethical culture. And virtually all the large firms said that if there was bad behaviour, it is behind them.

Well, it isn’t.

In the study, to be released Tuesday, about a third of the people who said they made more than $500,000 annually contend that they 'have witnessed or have firsthand knowledge of wrongdoing in the workplace' and 'nearly one in five respondents feel financial service professionals must sometimes engage in unethical or illegal activity to be successful in the current financial environment'.

To access the complete New York Times article hit the link below:

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