Who"s Watching Out for the Shareholder - Merger, Mayhem and Corruption on Wall Street
Why would anyone being paid millions want to steal more?Is it greed, power, control, wanting to be part of the ultimate privileged class? Corporate leaders paid lavishly to guide their corporations are found to profit from misconduct or fraud allowed to take place on their watch.
Rampant conflicts of interest exist between those who run the companies and those who invest in them.
Add to this complex accounting schemes, creative structural reorganizations, lack of internal controls and corporate directors shirking their responsibility as corporate watchdogs.
How can shareholders and, by extrapolation through their investments in mutual funds, retirement plans, 401K plans, a good portion of the general public be protected from such abuses? The problem of corporate misconduct cannot be solved by new legislation and regulations.
You cannot regulate ethics.
Laws will not dissipate greed.
Government prosecutors are often corrupt and government regulators often have their own political agendas placed above the needs of the citizenry they pledge to protect.
The greed of the plaintiff lawyers that glob on to corporate malfeasance cases seems even to surpass the greed of the corporate wrong-doers.
Shuffling the composition, compensation, roles and responsibilities of the corporate director many of whom viewed their function on a board as a national networking opportunity or unending social club circuit is one attempt at slowing the abuses.
Another is public awareness.
But public awareness via a medium that energizes and encourages discussion rather than that which only fines and condemns.
With these hopes in mind Sanjay Sanghoee brings us his new novel "Merger".
Merger is a fast paced story of ultimate corporate greed and corruption filled with beautiful, ambitious employees, fine dining and exotic settings, complex international deal making, money laundering and extremely high placed corporate executives and government officials that overlay an intricately detailed description of the world of investment bankers and the loneliness of life in New York City.
Sanjay Sanghoee takes us step by step through the process of a major corporate merger.
At each stop he shows us how employees at all levels, investment bankers, due diligence officers, lawyers, government regulators, members of the press and government officials can succumb to the persistent and insidious pressures offering rewards of payment to perform or payment to just look the other way.
A compelling read for financial and investment service professionals and the general investing public.
Merger is a guidebook on the gentle (or in some cases not so gentle) art of corruption.
A graphic depiction of how those that take the bait are handsomely rewarded and those that strive to uphold business ethics are thrown to the dogs as the corporate scapegoat.
And in this process the public, the individual stockholder receives barely a passing thought.
Rampant conflicts of interest exist between those who run the companies and those who invest in them.
Add to this complex accounting schemes, creative structural reorganizations, lack of internal controls and corporate directors shirking their responsibility as corporate watchdogs.
How can shareholders and, by extrapolation through their investments in mutual funds, retirement plans, 401K plans, a good portion of the general public be protected from such abuses? The problem of corporate misconduct cannot be solved by new legislation and regulations.
You cannot regulate ethics.
Laws will not dissipate greed.
Government prosecutors are often corrupt and government regulators often have their own political agendas placed above the needs of the citizenry they pledge to protect.
The greed of the plaintiff lawyers that glob on to corporate malfeasance cases seems even to surpass the greed of the corporate wrong-doers.
Shuffling the composition, compensation, roles and responsibilities of the corporate director many of whom viewed their function on a board as a national networking opportunity or unending social club circuit is one attempt at slowing the abuses.
Another is public awareness.
But public awareness via a medium that energizes and encourages discussion rather than that which only fines and condemns.
With these hopes in mind Sanjay Sanghoee brings us his new novel "Merger".
Merger is a fast paced story of ultimate corporate greed and corruption filled with beautiful, ambitious employees, fine dining and exotic settings, complex international deal making, money laundering and extremely high placed corporate executives and government officials that overlay an intricately detailed description of the world of investment bankers and the loneliness of life in New York City.
Sanjay Sanghoee takes us step by step through the process of a major corporate merger.
At each stop he shows us how employees at all levels, investment bankers, due diligence officers, lawyers, government regulators, members of the press and government officials can succumb to the persistent and insidious pressures offering rewards of payment to perform or payment to just look the other way.
A compelling read for financial and investment service professionals and the general investing public.
Merger is a guidebook on the gentle (or in some cases not so gentle) art of corruption.
A graphic depiction of how those that take the bait are handsomely rewarded and those that strive to uphold business ethics are thrown to the dogs as the corporate scapegoat.
And in this process the public, the individual stockholder receives barely a passing thought.
