An expose of bad businesses and their unethical practices

A British study has found that financial services employees possess less honesty, less loyalty, and less self-discipline than the average British worker.  That is not exactly great news for people with money in banks or with brokers, and than is most of us. This reports shows quite clearly that the reputations of bankers have fallen on hard times as their compensation packages have grown.

From the article: “Roger Steare, Professor of Organisational Ethics at Cass Business School, has completed some intriguing research into the banking industry’s morals. He put more than 700 executives working in financial services firms through integrity tests. These financiers were as a group less honest, less loyal and had less self-discipline than the average British worker. Professor Steare believes that the lack of self-discipline in the profession indicates a culture of greed and short-termism.”

Much of this study revolves around the sizes of bonuses being paid in the British banking industry despite the hard times upon which the industry has fallen, and how out of step those bonuses appear in a time of lagging profits. The study may show that the average worker is not too happy to see people that are losing them money profiting from the experience. They may simply see it as Bad Business.