Jul. 16th, 2009

tim: Tim with short hair, smiling, wearing a black jacket over a white T-shirt (Default)
"Attempting to improve corporate ethics is probably hopeless as well.... The reason is simple: moral self-selection. In the United States, people are free to choose whatever careers they want. Those who care little about money become soldiers, teachers, artists, and librarians. Those who desire personal wealth are drawn to business. As a result, our large corporations are staffed almost entirely by people who are more vulnerable to the lure of money, and potentially more at risk of committing fraud to achieve it, than ordinary Americans." -- John Kroger, Convictions
tim: Tim with short hair, smiling, wearing a black jacket over a white T-shirt (Default)
More from Kroger:

"Investigators have discovered, for example, that in 1992, Morgan Stanley's managing director of corporate finance secretly instructed his firm's analysts to 'make no negative comments about our clients.' More recently investigators discovered that Merrill Lynch was publicly touting client stocks in positive research reports even though its analysts privately described the same companies in internal e-mails as 'junk,' 'shit,' and 'crap.'"

(This demonstrates the value of simple data mining techniques! I bet you can discover a lot just by grepping for swear words. The same is true for comments in source code.)

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tim: Tim with short hair, smiling, wearing a black jacket over a white T-shirt (Default)
Tim Chevalier

December 2018

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