6 ms·

I don't know about Germany but in the US, we apparently have a do not hire list that goes across company lines for even positions like bank tellers? There was n

I don't know about Germany but in the US, we apparently have a do not hire list that goes across company lines for even positions like bank tellers? There was no visible public outrage against any company that refused to hire former Wells Fargo employees for example

yourapostasy 9y ago
> ...we apparently have a do not hire list that goes across company lines for even positions like bank tellers? There was no visible public outrage against any company that refused to hire former Wells Fargo employees for example For bank tellers, I believe this is tracked via the federal agency FINRA, through AWC submittals. For the Wells Fargo employees, you likely are thinking of the brokers who were ordered by Wells Fargo management to fraudulently open accounts. Allegedly, many of these brokers then found out later after they were terminated from Wells Fargo that the bank marked their termination on a U5 form in a manner that all but ejects them from the financial services industry, forever [1]. In both of these cases, they are via mandatory regulatory notifications, and not like the Japanese cases discussed here where it sounds more informal. [1] https://www.nytimes.com/2016/11/04/business/dealbook/wells-fargo-faces-scrutiny-for-black-marks-on-ex-employee-files.html https://www.nytimes.com/2016/11/04/business/dealbook/wells-f...
- ch4s3 9y ago
  FINRA is an industry group
  - yourapostasy 9y ago
    Thanks for the correction, it is a self-regulatory measure by the US financial services industry.
- walshemj 9y ago
  Finance is different get caught doing naughty things and you can be banned for life in the same way a Dr can be struck off
  - _jal 9y ago
    ... Unless you're C-level, in which case you merely lose your bonus at worst.
  - sedachv 9y ago
    The most famous financial criminal of the 1980s United States, Michael Milkin, is now a wealthy philanthropist living large in Los Angeles. The disincentive for large-scale financial crime in the United States is just not there.
    - walshemj 9y ago
      I think he was before the finance industry put this in place
- TerminalJunkie 9y ago
  Planet Money did a podcast on this very thing http://www.npr.org/sections/money/2016/10/28/499805238/episode-732-bad-form-wells-fargo http://www.npr.org/sections/money/2016/10/28/499805238/episo...
RyanMcGreal 9y ago
America has some of the worst worker protection laws and regulations in the developed world: occupational health and safety; minimum wage; paid time off (vacation, illness, parental leave); lunch and other breaks; consecutive hours worked in a day; 'at-will' termination; and so on. It really is an extreme outlier.
- mixedCase 9y ago
  On the other hand, at least when it comes to software developers, americans seem to be extremely well paid compared to the rest of us and they pay far less in tax. I'd make that trade any day, but then again that's just one industry and I'm just one person.
  - da02 9y ago
    Which country are you in? (The taxes vary depending on the U.S. state.)
  - brazzledazzle 9y ago
    It's been some time since I ran the numbers but when you isolate federal taxes and compare them the difference is stark. But when you combine all of our income taxes and compare the percentage the difference is much, much less significant. Federal, social security, state, state disability, etc. It does depend on the state though. If you add in health insurance costs since those are covered by the government in other countries the difference shrinks even more. When you combine it all and compare the amount of benefits and safety nets provided to other countries it kind of feels like you're being screwed. I guess getting paid more is nicer but raising children here and realizing that they may not make nearly as much money while having such small or irrelevant safety nets is a sobering experience.
    - emodendroket 9y ago
      Well they have to pay for all that military equipment somehow.
  - exelius 9y ago

yourapostasy 9y ago

> ...we apparently have a do not hire list that goes across company lines for even positions like bank tellers? There was no visible public outrage against any company that refused to hire former Wells Fargo employees for example For bank tellers, I believe this is tracked via the federal agency FINRA, through AWC submittals. For the Wells Fargo employees, you likely are thinking of the brokers who were ordered by Wells Fargo management to fraudulently open accounts. Allegedly, many of these brokers then found out later after they were terminated from Wells Fargo that the bank marked their termination on a U5 form in a manner that all but ejects them from the financial services industry, forever [1]. In both of these cases, they are via mandatory regulatory notifications, and not like the Japanese cases discussed here where it sounds more informal. [1] https://www.nytimes.com/2016/11/04/business/dealbook/wells-fargo-faces-scrutiny-for-black-marks-on-ex-employee-files.html https://www.nytimes.com/2016/11/04/business/dealbook/wells-f...

ch4s3 9y ago
FINRA is an industry group
- yourapostasy 9y ago
  Thanks for the correction, it is a self-regulatory measure by the US financial services industry.
walshemj 9y ago
Finance is different get caught doing naughty things and you can be banned for life in the same way a Dr can be struck off
- _jal 9y ago
  ... Unless you're C-level, in which case you merely lose your bonus at worst.
- sedachv 9y ago
  The most famous financial criminal of the 1980s United States, Michael Milkin, is now a wealthy philanthropist living large in Los Angeles. The disincentive for large-scale financial crime in the United States is just not there.
  - walshemj 9y ago
    I think he was before the finance industry put this in place
TerminalJunkie 9y ago
Planet Money did a podcast on this very thing http://www.npr.org/sections/money/2016/10/28/499805238/episode-732-bad-form-wells-fargo http://www.npr.org/sections/money/2016/10/28/499805238/episo...

RyanMcGreal 9y ago

America has some of the worst worker protection laws and regulations in the developed world: occupational health and safety; minimum wage; paid time off (vacation, illness, parental leave); lunch and other breaks; consecutive hours worked in a day; 'at-will' termination; and so on. It really is an extreme outlier.

mixedCase 9y ago
On the other hand, at least when it comes to software developers, americans seem to be extremely well paid compared to the rest of us and they pay far less in tax. I'd make that trade any day, but then again that's just one industry and I'm just one person.
- da02 9y ago
  Which country are you in? (The taxes vary depending on the U.S. state.)
- brazzledazzle 9y ago
  It's been some time since I ran the numbers but when you isolate federal taxes and compare them the difference is stark. But when you combine all of our income taxes and compare the percentage the difference is much, much less significant. Federal, social security, state, state disability, etc. It does depend on the state though. If you add in health insurance costs since those are covered by the government in other countries the difference shrinks even more. When you combine it all and compare the amount of benefits and safety nets provided to other countries it kind of feels like you're being screwed. I guess getting paid more is nicer but raising children here and realizing that they may not make nearly as much money while having such small or irrelevant safety nets is a sobering experience.
  - emodendroket 9y ago
    Well they have to pay for all that military equipment somehow.
- exelius 9y ago