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Sure it's not illegal, but do you think it's ethical? Do you think it's a thoughtful policy for Goldman Sachs? I know if I were one of the M&A parties, I woul
by wavefunction 12y ago
Sure it's not illegal, but do you think it's ethical?
Do you think it's a thoughtful policy for Goldman Sachs?
I know if I were one of the M&A parties, I would irate to find out that the supposed advisor had a personal stake that could have influenced how things shook out.
- rayiner 12y agoContemporary understanding is that outside of special cases, ethics is dictated by the market. If Goldman's clients have a problem with with bankers having personal stakes, they'll not use Goldman's services. Its not like they don't know. Its very common for investment professionals to get in on the deals they work on. In any case, regulators are entrusted with making sure people follow the law, not some ethical code that differs from person to person.
- pstuart 12y ago> ethics is dictated by the market Maybe we can start trading in ethics? /s
- waterlesscloud 12y agoWhy was the Fed looking at Goldman's conflict of interest policy at all then?
- canvia 12y ago"ethics is dictated by the market" How can you seriously say that? It's fine to hurt people as long as they're willing to tolerate it or remain ignorant to it? Preying on ignorance isn't ethical even if it markets well.