3 ms·
Most banks saw their valuation drop by 90+% during the recession. Is that enough responsibility considering that banks employed millions of people, the majority
by Aunche 3y ago
Most banks saw their valuation drop by 90+% during the recession. Is that enough responsibility considering that banks employed millions of people, the majority of which and nothing to do with mortgages?
- no_wizard 3y agoIn a word, no. Why weren't executives and boardrooms held liable? That would have been a great start. Actually putting teeth behind regulations, clawing back bonuses and invalidating golden parachutes and culpable executives going to prison, preferably for a long time. None of the executives involved should legally be allowed to work in finance again. If I as an individual pulled the stunts they did, or a smaller organization did, they'd be labeled fraudsters and prosecuted to the fullest extent of the law. What TARP and its aftermath proves is that if you're big enough, you escape all real liability for your actions, and the public and your employees get to suffer the consequences. Why should executives and boardrooms be left off the hook while the American public pays the price?