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HomeWall Street: Culture of Silence
Posted by Larry Doyle on July 17th, 2013 8:02 AM |
Wall Street often gets very quiet during the hot, hazy days of summer.
Yet if we were to take a deeper look into Wall Street, it is eerily quiet in many corners of the industry all too often. How so? Wall Street’s code of silence, in which those with knowledge of wrongdoing or improprieties remain quiet, was supposed to change with the new Dodd-Frank whistleblower program.
How is that program doing? (more…)
The Wall Street-Washington ‘Code of Silence’
Posted by Larry Doyle on April 13th, 2012 7:58 AM |
Do you ever wonder why we have not heard more people on Wall Street coming forth to expose practices and policies which were prevalent in bringing our economy and nation to its knees? What is holding people and firms back from coming clean? Why does the same scenario seem to be playing out in Washington as well?
Allowing bad behaviors to remain swept under the rug is little more than a catalyst for further bad behaviors down the road. Actually, punishing those who might look to expose bad practices promotes a code of silence which I strongly believe undermines confidence in our markets and our nation. I am very concerned that we are experiencing this very dynamic at play. Let’s navigate. (more…)
Wall Street’s ‘Code of Silence’
Posted by Larry Doyle on April 7th, 2010 9:03 AM |
Shut up!!!
Imagine being in a situation in which you knew you had to be quiet in order to advance your own personal career, rather than speaking up and blowing the whistle on irregularities and improprieties within your firm. This message is consistently relayed by many a whistleblower who has suffered from having tried to do the right thing. What is the result? Firms tout their virtuous values of integrity, respect, and excellence while effectively muzzling those who would blow the whistle on crimes and illegal practices.
I believe this reality is all too present in many, if not most, industries in our society today. There is absolutely no doubt it is present on Wall Street. (more…)
