4 ms·
>cozy relationship between too-big-to-fail banks and their self-created bureaucracy don't know who is cozy but almost everyone in the sell side is being saddle
by princeb 11y ago
>cozy relationship between too-big-to-fail banks and their self-created bureaucracy
don't know who is cozy but almost everyone in the sell side is being saddled with endless amounts of compliance requirements and unless you enjoy staying into the middle of the night reccing books 500 ways and tagging customer forms and tickets the life has become less and less enjoyable.
i am pretty sure i am right when i say the life was good when the regulators were more laissez faire in the early 2000s.
- grandalf 11y agoWhen there was market discipline causing firms to avoid bad underwriting practices, many of those regulations were not necessary. But now nearly everything but the actual incentives has been blamed for why the market crashed. Now, when it crashes again, it will of course have been totally unexpected and impossible to predict, so of course a bailout will be necessary, etc. My overly simplistic take is that the finance industry effectively practices "risk laundering"...
- bainsfather 11y agoThe argument is that these onerous regulations are easier for a large bank to comply with, than for a startup to comply with. i.e. the regulations entrench the big players.