(Bloomberg) Why do we fine banks lots of money for doing bad things? The fines are more or less paid by the shareholders, and it’s not like the shareholders did the bad things. But in theory, the shareholders don’t want to be fined, so they will hire directors who don’t want to be fined, who will hire executives who don’t want to be fined, who will hire employees who don’t do bad things.
Mortgage Bankers and Hedge-Fund Revivals
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