By: DFree | October 20, 2009 | Wall Street Ethics
It appears that greed once again got in the way of professional ethics in the recent downfall of the financial services industry. A recent article investigates how Moody’s Investor Services fired/purged employees who raised concern that the company was risking it’s reputation over profits.
It appears that Moody’s promoted employees who were willing to take much risk and not stay true to the company’s founding mission of ethics, compliance research, and due diligence. This is how “toxic assets” got their start.
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