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> Still, Borkowski urged stricter legislation and more oversight. “These questions you raise touch on fundamental things we are going to be doing differently no
by deciplex 11y ago
> Still, Borkowski urged stricter legislation and more oversight. “These questions you raise touch on fundamental things we are going to be doing differently now,” he said. “We want to secure ourselves in the future from any potential questions like this again, so we can say, ‘No, that’s not us.’ ”
Isn't this an admission of guilt?
- srtjstjsj 11y agoNo, there is wide gulf between "guilty" and "best way to do it"
- srtjstjsj 11y agoNo, there is wide gulf between "guilty" and "best way to do it"
- 6502nerdface 11y agoNot necessarily... In any business there's such a thing as "headline risk," distinct from legal or compliance risk. It's where the mere perception of wrongdoing can be almost as damaging to your business as actual wrongdoing/noncompliance; anything can be spun as sinister by an unsympathetic press. So to mitigate headline risk you might actually make your compliance controls much stronger than legally necessary. I think Borkowski is trying to say something like his business is fundamentally honest, but the reporter has raised some serious points of possible misperception about it, and they're going to make some compliance changes to clarify themselves against possible misperceptions of wrongdoing. Of course it's kind of too late if you're finding out about your headline risk from a reporter. And not to defend these bozos.
- lotu 11y agoSometimes, the easiest person to fool is yourself.