There's an old saying: "The fish stinks from the head down."
A players hire A players.
Cheats hire cheats.
What is it about the financial sector that encourages bad behavior?
21–22 of 22 posts
Re: What is it about the financial sector that encourages bad behavior?
#22There is another cultural norm that is prevalent in the financial industry leads (IMHO) to dishonesty. It is an incredibly competitive industry, reliant on a small(ish) number of very well remunerated individuals. These individuals are put under immense pressure to perform flawlessly. Any mistakes are picked up on very quickly and a perceived weakness can cause the wolves to circle in an instant. There is no incentiv…
That sounds a lot like medicine, and a lot of other professional services.
And in medicine, and aviation, and civil engineering, the regulators have teeth because the stakes are so high.
But, there's also a culture of not blaming the lowest-common-denominator employee when there are problems. To the best of my knowledge, the FAA and NTSB explicitly don't blame any individuals when putting together post-mortem incident reports. That's specifically to avoid creating the culture of ducking responsibility that GP was talking about.