Buy a whistle, and blow it.
I’ve always wanted to write an article about how to make millions. Heaven knows, I’ve read countless articles in my life. When I was young I thought that I would actually get some inspiration from an article like that. Needless to say, I never did.
So, I was intrigued by this week’s news story about someone who has received $14 million from the Securities & Exchange Commission (SEC) in the U.S. for “whistleblowing”.
Apparently this person reported “market misconduct”
Details have been withheld by the SEC, so it can’t be determined what the whistleblower actually blew about. Shame really.
In any event, I think we may just have found the golden retirement package of all retirement packages.
It started me thinking – big time, I have to say.
Over our lifetimes, as Oldsters, I wonder how many of us, especially those who worked for big companies, have countless examples of “misconduct” that we witnessed in our working environment. Give me that whistle, I say.
I’m sure – well I should say, I hope – that the SEC thoroughly investigated, and verified, the information provided to them. I’m sure they did.
Having said that, I nonetheless believe that thousands of Oldsters, perhaps millions, have copied e-mails, or letters, or reports, which, if they were ever to be aired, could cause severe damage to the companies. I suspect that in the interests of self-protection many people have done just that. In other words, when a person leaves a company, or retires, then in an effort to thwart subsequent action for their own misconduct, they gathered the evidence, ”just in case”.
So what would happen if they now started to drip-feed that material into mainstream disclosure..?
The result could be a tsunami of paranoia in the corporate world.
On the other hand, maybe the SEC needs to hire a lot more people to receive submissions of misconduct. Moreover, they probably have to go to Congress and, yet again, increase the National Budget, to cover the awards to be meted out.
I am quite sure the SEC was fully aware of the precedent they were setting. I am also quite sure they have the means to differentiate between genuine information and frivolous information from gold-diggers.
If not, then I am quite sure that someone – not me !! – WILL write a book on how to make millions by finding those e-mails in the boxes you now can’t remember where they are, and then trying to decipher your own notes, then assembling them into some credible format for submission.
Let’s face it, if the SEC didn’t want to encourage such action, they wouldn’t have let this payment leak out. Right … ?
On the other hand, maybe the idea is to remind us of Snow White and the Seven Dwarfs …
“Just whistle while you work
And cheerfully together we can tidy up the place
So hum a merry tune
It won’t take long when there’s a song to help you set the pace.”