4 ms·

> Although I need the money now more than ever, I will not join the looting of the very people I was hired to protect. I'm impressed by this man's character.

by MarkMc 10y ago

> Although I need the money now more than ever, I will not join the looting of the very people I was hired to protect. I'm impressed by this man's character. Not many people would give up $8 million to which they are legally entitled.

ycombinatorMan 10y ago
Im sure a lot of shareholders are too now
- Gustomaximus 10y ago
  Meh, in the scheme of things this nets out to very little for Deutsche shareholders. It's truly a moral stance. Huge respect for this guy. How much better would the world be if 30% of the population could take this level of ethics to life. Some reputable bank should chase this guy to work in their regulatory affairs.
  - chrisbennet 10y ago
    Is there such a thing as a "reputable bank" though? There are huge profits to be made by skating close to, and over, the ethical line. I doubt banks really want comply - they just want to avoid getting caught.
    - smcl 10y ago
      Perhaps smaller banks that cannot afford to eat millions of dollars/pounds of fines from the SEC or FCA? Assuming they're as sinister as you think (not sure if this is true) he won't get hired at Goldman, JPM or similar, but I know that Risk/Compliance dept at company I work for would jump at the chance to hire someone so knowledgable and ethical as this guy if they had open positions.
  - wmkn 10y ago
    > Some reputable bank should chase this guy to work in their regulatory affairs. I doubt he will ever find a job in this field again. If you show such 'disloyalty' towards your employer you will be tainted forever. Companies, especially banks, do not want to run the risk of having their dirty laundry exposed (both legal and illegal dirty laundry). If there is any hint that you cannot look away when questionable things are happening there is no chance you will get hired. The Financial Times has an article about three Wallstreet whistleblowers (including the Deutsche guy): http://www.ft.com/cms/s/2/ce216134-e6c7-11e3-9a20-00144feabdc0.html http://www.ft.com/cms/s/2/ce216134-e6c7-11e3-9a20-00144feabd...
korias 10y ago
I would guess at least half goes to his ex-wife, and a pretty significant portion of the rest goes to his lawyers. Which suggests he may not be getting a life-changing amount out of it in the end, and so would be more incentivized to publically spurn the award.

by MarkMc 10y ago

ycombinatorMan 10y ago

Im sure a lot of shareholders are too now

Gustomaximus 10y ago
Meh, in the scheme of things this nets out to very little for Deutsche shareholders. It's truly a moral stance. Huge respect for this guy. How much better would the world be if 30% of the population could take this level of ethics to life. Some reputable bank should chase this guy to work in their regulatory affairs.
- chrisbennet 10y ago
  Is there such a thing as a "reputable bank" though? There are huge profits to be made by skating close to, and over, the ethical line. I doubt banks really want comply - they just want to avoid getting caught.
  - smcl 10y ago
    Perhaps smaller banks that cannot afford to eat millions of dollars/pounds of fines from the SEC or FCA? Assuming they're as sinister as you think (not sure if this is true) he won't get hired at Goldman, JPM or similar, but I know that Risk/Compliance dept at company I work for would jump at the chance to hire someone so knowledgable and ethical as this guy if they had open positions.
- wmkn 10y ago
  > Some reputable bank should chase this guy to work in their regulatory affairs. I doubt he will ever find a job in this field again. If you show such 'disloyalty' towards your employer you will be tainted forever. Companies, especially banks, do not want to run the risk of having their dirty laundry exposed (both legal and illegal dirty laundry). If there is any hint that you cannot look away when questionable things are happening there is no chance you will get hired. The Financial Times has an article about three Wallstreet whistleblowers (including the Deutsche guy): http://www.ft.com/cms/s/2/ce216134-e6c7-11e3-9a20-00144feabdc0.html http://www.ft.com/cms/s/2/ce216134-e6c7-11e3-9a20-00144feabd...

korias 10y ago

I would guess at least half goes to his ex-wife, and a pretty significant portion of the rest goes to his lawyers. Which suggests he may not be getting a life-changing amount out of it in the end, and so would be more incentivized to publically spurn the award.