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I find it curious when people give these institutions the benefit of the doubt. It flies in the face of the history of the industry and also what we know about
by yomly 6y ago
I find it curious when people give these institutions the benefit of the doubt. It flies in the face of the history of the industry and also what we know about basic human nature.
I've moved around these types of social circles to know that any levers that can be pulled will be pulled.
We also know that for large financial institutions, breaking the law is usually just a cost of doing business. Tangential, but GS was happy to facilitate 1MDB, and HSBC empower money launderers...
In any case it is speculation so my opinion carries no real weight over yours, but it does make me wonder what has coloured my world view to be so cynical/nihilistic
- gruez 6y ago>I find it curious when people give these institutions the benefit of the doubt. Is it any different than giving the election officials the benefit of the doubt rather than assuming that The Establishment rigged the election? not that I support the election fraud claims, but it's an interesting parallel to what's happening here.
- yomly 6y agoFair enough. Would rather not get into that one, but the world of finance doesn't exactly have a good track record of playing nice or even by the rules...
- ummonk 6y agoI suspect people who give these institutions the benefit of the doubt haven’t actually moved around in those circles. I certainly would have given them the benefit of the doubt 5 years ago when I didn’t actually know anyone from those institutions.