Anzeige
Erschienen in:
2018 | OriginalPaper | Buchkapitel
2. The Financial Crisis: The Culture Problem Emerges
verfasst von : Henry Engler
Erschienen in: Remaking Culture on Wall Street
Aktivieren Sie unsere intelligente Suche, um passende Fachinhalte oder Patente zu finden.
Wählen Sie Textabschnitte aus um mit Künstlicher Intelligenz passenden Patente zu finden. powered by
Markieren Sie Textabschnitte, um KI-gestützt weitere passende Inhalte zu finden. powered by
Abstract
Four industry scandals are examined to understand the actors involved, their motivations, and how the groups in which they worked formed and shaped their attitudes and behavior. In all cases, the customer’s interests are secondary to those of the organization. The Libor and FX rate-rigging scandals, Goldman Sachs’s ABACUS mortgage selling affair, and the more recent and ongoing difficulties at Wells Fargo are reviewed. Similarities between the cultural changes at both Goldman and Wells Fargo are highlighted. The chapter lays the foundation for examining misconduct through a behavioral lens, one that tries to understand the dynamics of group behavior.