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Survey: 24 percent of financial executives say illegal conduct is necessary for success
[Quote]:
A quarter of Wall Street and British financial executives think unethical or illegal conduct is needed to succeed, according to a survey by law firm Labaton Sucharow released Tuesday.
A full 24 percent of senior managers polled by the New York-based firm said they “may need to engage in unethical or illegal conduct in order to be successful.”
And 16 percent admitted they would commit a crime, like insider trading, if they could get away with it.
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And that survey is about what executives actually *think* to be unethical or illegal. That is very different to real illegal conduct.
Top-level executives are usually so immersed in their ivory-tower, that most of them even don’t know anymore what exactly constitutes illegal conduct. As far as I know, there was a study some years ago which found out something really scary. A huge number of top executives thought certain practices to be legal, which were in reality highly illegal. These guys even don’t know anymore what is illegal or legal. Illegal conduct seems to be so widespread in these circles, so it became normal for them.