Articles & Perspectives
Recent Op-Ed in USA Today Examines Ethical Breakdown in Financial Services Industry
- September 10, 2012
- Labaton Sucharow
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.