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Bring back Glass-Stiegel. Bankers are like college students on Spring Break, going wild unless the police come in and break up the party. Banking needs to be
by alejohausner 3y ago
Bring back Glass-Stiegel. Bankers are like college students on Spring Break, going wild unless the police come in and break up the party. Banking needs to be boring and only slightly profitable, and strictly policed.
As for whether bank CEOs should suffer, well, that's the whole point of having a limited liability corporation: to isolate the company's owners from the legal consequences of their misdeeds.
- hnarn 3y ago> that's the whole point of having a limited liability corporation If your argument is that “there’s nothing we can do about this without completely abolishing LLCs” then that strikes me as somewhat absurd. The limited liability privilege that exists today does not in any way make you immune from prosecution if your actions are criminal. Sam Bankman-Fried is one obvious example. Whether CEOs should “suffer” or not depends entirely on whether they have broken the law, not whether they are leading an LLC. It’s called “limited” liability for a reason.