The firm that rejects Wall Street’s routine practices

The firm rejects many of Wall Street’s routine practices, arguing that it is unfair to credit companies that are “at risk of losing its money.”

By Damien Posnareff

“We think it’s very unfair to credit companies that are at risk of losing its money,” said a representative of the Dutch investment bank to The Counterfeit.

Still, it argues that some of the biggest mistakes on Wall Street have been made by private-equity firms and credit card companies.

In its view, some private-equity firms have been more effective at creating and nurturing profit-making business models than public-interest law firms and labor unions or labor relations law firms to protect workers; in fact, some have been less effective.

“We think it’s very unfair to credit companies that are at risk of losing its money”

– Representative of the Dutch investment bank

But some private-equity firms have also been less effective in protecting employees from discrimination. On the eve of their 2008 bankruptcy battle, they were found guilty — and fined — by a federal court that deemed private-equity firms guilty in general of wage discrimination.

Since then, some Wall Street firms have started using new technology to improve their ability to identify those who would fall ill and offer them care.

In the coming weeks, the commission plans to focus its attention on the most important case in this year’s case — a case that focuses on a private-equity firm.

This is a developing story: We’ll provide updates on the situation as we learn more.

---