FAVOR OF NEPOTISM AND CRONYISM But by and large, financial firms in particular c

http://dealbook.nytimes.com/2013/08/19/hiring-the-well-connected-isnt-always-a-scandal/?_r=2IN FAVOR OF NEPOTISM AND CRONYISM

But by and large, financial firms in particular commonly hire people who have certain connections, whether through family or a business relationship. The thinking is that the new hire — and his or her last name — might “help open doors,” Mr. Driscoll said. But, like many people I interviewed on this topic, he did not see a legal issue with such hires. “I don’t think there is a quid pro quo,” such that the hiring of children is explicitly generating business from the parent. At best, he said, “It gets you in the room.” He added: “It’s like chicken soup. It can’t hurt.”

Actually, I encourage it. The reason being, that I like a) a family to have all the eggs in our basket, and b) it builds more trust – as long as the company is transparent. (And since I only build transparent companies, that’s not a problem.)