I mean the whistleblower (even if anonymous) probably ends their career by doing it. 30mm might not be worth it for a high-level exec so to me it makes sense to have it uncapped.
>And three whistleblowers, all represented by Jordan Thomas, were awarded a total of $83 million.
>Even now, does Merrill Lynch know who the whistleblowers were, who your clients were?
>THOMAS: No, they don't.
>GOLDSTEIN: Wow.
>THOMAS: The same with JP Morgan. If we do our job well, our clients can and do continue working at the organizations in which they reported even though they could buy an island. Some of them like working, so they keep working.
>GOLDSTEIN: I mean, not to be glib, but there is the, like, hey, Bob (ph), how'd you show up in a Lamborghini today? Well...
>THOMAS: (Laughter) Yeah. No, some people don't show their money.
>GOLDSTEIN: Yeah. Yeah.
>THOMAS: And this - they - yeah, I call them secret millionaires, you know, people who won a whistleblower award but choose to keep working.
>GOLDSTEIN: At the same firm.
>THOMAS: Yeah. It does happen. People's relationship with their work is in some ways like family after a period of time, and breaking it off is hard.
Adding to this some companies have connections with very thuggish and dangerous people. Snitching may result in that which can not be stitched. The whistleblower may have to leave the country, change identity and lay low. I say this having worked for a CEO that was also a mob boss and had to think this through.
I think you definitely end your career by blowing th whistle on your employer, past or present, with the SEC. Even more so if you at the higher levels of the org chart. After al, ypu didnitbonce, so ehy would any other employer trust you again? And thatbhas notjingbto with being rigjt or not, the saying "people like treason but hate traitors" is quite old after all.
So yes, I totally support the SECs whistleblower program. Explicitely including the fact people can fax their tips to them, or use attorneys for a layer of semi anonymity.
>And three whistleblowers, all represented by Jordan Thomas, were awarded a total of $83 million.
>Even now, does Merrill Lynch know who the whistleblowers were, who your clients were?
>THOMAS: No, they don't.
>GOLDSTEIN: Wow.
>THOMAS: The same with JP Morgan. If we do our job well, our clients can and do continue working at the organizations in which they reported even though they could buy an island. Some of them like working, so they keep working.
>GOLDSTEIN: I mean, not to be glib, but there is the, like, hey, Bob (ph), how'd you show up in a Lamborghini today? Well...
>THOMAS: (Laughter) Yeah. No, some people don't show their money.
>GOLDSTEIN: Yeah. Yeah.
>THOMAS: And this - they - yeah, I call them secret millionaires, you know, people who won a whistleblower award but choose to keep working.
>GOLDSTEIN: At the same firm.
>THOMAS: Yeah. It does happen. People's relationship with their work is in some ways like family after a period of time, and breaking it off is hard.
https://www.npr.org/transcripts/728001911