Controls seem to generate trust.
This Bloomberg article says President Obama will be “tackling the biggest overhaul in financial regulation since Franklin D. Roosevelt and Congress created the Federal Deposit Insurance Corp. and the Securities and Exchange Commission in the 1930s.”
Another Bloomberg article says Bernard Madoff’s brother was the brokerage’s chief compliance officer. That’s scary. Seems that Meric Bloch could be right in this webinar – teams of two score bigger frauds because of the secrecy they can establish between themselves.
How do businesses get that trust back? I have some ideas in the first link of this article, but I’m open to corrections or additions to those thoughts.
Note: I just read Jeremiah’s post from 2007 on the topic of trust. For one thing, it made me realize how un-new the things I’m saying are; for another, he seemed to slightly disagree with my point in the sense that, rather than forcing controls, companies should allow employees to self-correct with regards to certain social media ‘rules.’ That may be true to some extent.
