This confirms all stereotypes, right? A new survey proves that, yes, some Wall Street executives are prone to corruption. The survey — released today by Labaton Sucharow, and reported by Reuters — finds that of 500 "senior individuals" working in finance in the United States and United Kingdom 16 percent said they would engage in insider trading. But only if they could do so without repercussions. So at least they don't have career death wishes.
The survey was conducted through online interviews, used a sample population "including, but not limited to, Fund Managers, Bankers, Analysts and Asset managers" that was evenly divided between the U.S. and the U.K. Of the total 26 percent said they knew of people doing wrong — some had seen it and some just had "firsthand knowledge" — and 24 percent said they thought for success in finance some "unethical or illegal conduct" was required. Thirty-nine percent were also tattletales, responding that they thought it was likely that their competitors were doing that exactly. The Labaton survey follows one from Ernst & Young in May which cast business executives in a similar light.
One would think, if they are so into lying and all, respondents to these surveys might want to give their industry some better PR.
This article is from the archive of our partner The Wire.
We want to hear what you think about this article. Submit a letter to the editor or write to email@example.com.