# kaal:claim:1998455-006

**Claim.** The anecdotal record of ethically questionable conduct by leaders of systemically important financial institutions is not dispositive and does not establish an underlying trend, but it does show that some of the most pervasive cases of unethical conduct involved such institutions.

**Type.** empirical  **Support.** evidenced

**Holds when.**

- based on the high profile cases surveyed: Citigroup, Bear Stearns, AIG, Merrill Lynch, Lehman Brothers

**Source quote.**

> The anecdotal evidence pertaining to ethically questionable conduct of SIFI leaders is certainly not dispositive or indicative of underlying trends. It does seem to show, however, that some of the most pervasive cases of unethical conduct did involve SI- FIs.

**From.** Wulf A. Kaal, *Initial Reflections on the Possible Application of Contingent Capital in Corporate Governance* (2012), II. Governance Challenges for Systemically Important Financial Institutions, page 14

**Cite as.** Wulf A. Kaal, Initial Reflections on the Possible Application of Contingent Capital in Corporate Governance (2012). SSRN: https://ssrn.com/abstract=1998455

**Verify.** sha256 of source PDF `1c16ff10a284469ba15fb7ba5523449b917388ee692d9b394f9e8c094544e32c` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202012%20-%20Initial%20Reflections%20on%20the%20Possible%20Application%20of%20Contingent%20Capital%20in%20Corporate%20Governance.pdf

**Topics.** systemic-risk, empirical-evidence

**Keywords.** sifis, business-ethics, mismanagement, financial-crisis, anecdotal-evidence

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