Re:The Story McKinsey Didn’t Want Written
by green-eclipse on Monday July 08, 2019 @08:02PM
(#20387871)
Would anyone mind posting a tl;dr?
[ Parent
| on HN ]
[McKinsey’s internal investment company] first came under scrutiny because of the investments it holds in the clients of the firm’s bankruptcy consultancy work. For years, McKinsey did not disclose those investments to the court when applying to be a bankruptcy adviser — and still has disclosed very few. Under bankruptcy law, advisers are required to be “disinterested persons,” and cannot own the debtor company’s debt or equity, directly or indirectly.
My impression is that McKinsey is kind of like Arthur Anderson and Enron balled into one international criminal organization. AA had the undisclosed conflicts of interest part and E had the screwing over your employees’ retirement funds part. Top that with helping Saudi Arabia track down dissidents under the guise of “public opinion research.”
Tl;DR: McKinsey looks like a compliance shit show. I say this having ancillarily working in/with Compliance at several financial firms.
From the article, wouldnt be surprising for a bunch of people to go to jail and/or lose licenses.
Re:The Story McKinsey Didn’t Want Written
by SanchoPanda on Monday July 08, 2019 @09:10PM
(#20388179)
I've posted a moderately detailed tl;dr above under elamje's parent comment.