Articles & Perspectives

Recent Op-Ed in USA Today Examines Ethical Breakdown in Financial Services Industry

On September 5th, nestled between columns dissecting the presidential political drama as it unfolds, USA Today made space for another critical topic: How Wall Street Creates Criminals. In this column, Cornell Law professor Lynn Stout and I address how and why the financial services industry has lost its moral compass, and the necessary first step for recovery: accountability. Building on data gathered in Labaton Sucharow’s recent survey of the US-UK-Financial-Services-Industry-Survey, Wall Street, Fleet Street, Main Street: Corporate Integrity at a Crossroads, we argue that Wall Street has to admit that it has a corporate ethics problem and then take bold measures to change it.

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