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Bankers gone wild: Poll shows 26% of financial pros know of wrongdoing
Those who are somehow still optimistic about the prevailing ethos of the financial services industry ought to take a gander at the results of a new poll commissioned by a law firm that represents industry whistleblowers.
A quarter of the senior financial services professionals surveyed said they had observed or had firsthand knowledge of wrongdoing in the workplace. Roughly the same proportion said you had to engage in such conduct in order to succeed in the business. And 16 percent said they'd commit illegal insider trading if they could get away with it.
The whole thing is thoroughly dispiriting.
(An interesting sidelight is the gender gap. In particular, one sex was much more likely to commit insider trading, or at least to admit it. Can you guess which? Hint: stereotypes will serve you well here.)
Pictured Above: Traders work on the floor of the New York Stock Exchange on Friday.