Having been rocked by one damaging revelation of misbehavior after another. Wall Street is in a state of crisis. Investors are disgusted by the misdeeds of a few and suspicious of the industry at large. Every firm finds its integrity open to question. Regulators are up in arms. And the industry is facing billions of dollars in costs to comply with a floodtide of regulations.
But imagine what could happen if Wall Street firms looked back to a simpler time when a handshake was enough to seal a deal, and right and wrong were as clear as black and white. What if executives, portfolio managers, analysts and traders decided that some things aren’t for sale? What if every major investment firm agreed to live by the principle that the client always comes first?