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...and to comply with the law. The law that was created in response to their unethical behavior.
by Geeek 8y ago
...and to comply with the law. The law that was created in response to their unethical behavior.
- keymone 8y agounfortunately for us, reasonable people, there is no such thing for banks (and businesses in general) as "unethical behavior" when it comes to money. their responsibility is to increase shareholders' (or clients') value. they must comply with the law and often they don't or they devise clever workarounds, abusing judicial loopholes, and sometimes they get caught and then sometimes some scape-goat might end up in jail for couple years. until we see a mass execution^W^W real punishment of top management of all of large banks on this planet - nothing will change in the foreseeable future.
- Geeek 8y ago>when it comes to money. their responsibility is to increase shareholders' (or clients') value. That is not an empirical fact. It's a specific interpretation of how things should be in the world. Some see it that way and other see it differently.
- keymone 8y agoIt’s an interpretation of how things are. And unfortunately “let’s ostracize those who don’t behave ethically” doesn’t seem to be a scary enough stick if you consider that those banks have far more business with individuals that acquired their wealth in illegal ways and give zero shits about ethics.