One guesses that successful burglars could list all the weak point in home security systems and advise accordingly. However, there is also the possibility that they might withhold some or employe false premises to convince homeowners to take or not take steps that would leave them vulnerable. You might never know.
Be that as it may, the consulting firm, without admitting any wrongdoing, that was fined for violating federal bankruptcy conflicts disclosure standards, has been asked to develop new rules that could be adopted universally by the bankruptcy courts. The problem is that McKinsey, without any admission of failure to disclose or recognition of the perceptions of a conflict its standards caused, is now drafting a the new bankruptcy court rules. McKinsey sees conflicts differently from the rest of us; its approach will be sophisticated, tolerant, and detailed. However, one can be assured that some conflicts will be able to slip through the cracks.
The Barometer could write the rule. If you are working with the trustee in a bankruptcy case, you, as a consultant, must disclose all relationships (including those of your subsidiaries, pension plans, etc.) with the debtor, the creditor, the judge, the lawyers for all of these. Relationships include contracts, investments, consulting, board memberships, joint ventures, joint sponsorships, and let your imaginations run wild for more. When in doubt, disclose. In fact, that last part is a conflicts standard many companies, board members, and government officials follow, and has served them well.