Wall Street Reform Efforts (01:55)
Little has changed since the 2008 financial crisis; insiders are trying to reform electronic markets until regulation catches up. Ethical Markets hosted a 2014 insider seminar exploring new ways of curbing fraud. Hazel Henderson welcomes Wall Street Coach CEO Kim Ann Curtin.
Becoming the Wall Street Coach (03:36)
Curtin describes how she started counseling stock market workers on a volunteer basis in October 2008. Being a neutral person without an agenda helped traders through personal crises.
Curtin explains that coaching is about self-discovery while therapy sees clients as "broken" and needing fixing.
Ethical Wall Streeters (03:33)
Curtin took a grassroots approach to identify financial "good guys" such as Jim Rogers, an early China investor, and Amy Domini, a socially responsible investor. Early work with community bankers exposed her to morally upright financiers.
Occupy Wall Street Movement (03:28)
Henderson discusses how finance diverged from the real economy, leading to the 2008 recession. Having participated in post 9/11 volunteer efforts, Curtin was disappointed by protester negativity and the “us vs. them” mentality. She worked to reform Wall Street in positive ways.
Wall Street Reform Seminar (03:14)
Humans are programmed to exchange goods, yet markets require trust to operate. Henderson outlines a 2014 meeting of ethical financiers such as Brad Katsuyama, who blocked high frequency trading.
Virtuous Financial Circles (03:39)
Every organization contains ethical insiders trying to effect change, such as Joe Saluzzi who urged the SEC to investigate high frequency trading. Curtin hopes her book will encourage people to build integrity and resist temptation.
Practicing Financial Integrity (03:17)
Curtin discusses how Goldman Sachs partner John Whitehead decided to represent only one side of deals—profiting while putting client interest first. As private companies, Wall Street firms were not designed to protect the public interest.
Investing Locally (01:47)
Any member of the public with an investment account is part of Wall Street. Curtin and Henderson discuss how small, private investors transferred $17 billion from big banks to credit unions and community banks after 2010—shifting the financial power base.
Credits: Transforming Wall Street: Ethical Markets 6 (01:11)
Credits: Transforming Wall Street: Ethical Markets 6
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