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Quel Surprise Most Traders Would Cheat If They Could Get Away With It

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Aug 20 2007 12:00am EDT

Quel Surprise! Most Traders Would Cheat if They Could Get Away With It

Yves Smith of Naked Capitalism submits:

Wall Street appears to come upon its dubious reputation for ethics honestly. A reader survey in Trader Monthly (free registration required; hat tip DealBook) determined that 58% of its 2,500+ respondents said they would trade on inside information if the payoff was $10 million and they had no chance of being arrested. If the odds of arrest rose to 10%, the proportion that was still game dropped to 28%, and if the odds of apprehension were 50%, 7% still thought it was worth doing.

Some guys clearly have a high appetite for risk.

In keeping, the public figure they hated most was Eliot Spitzer (62%).

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