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Banks should receive trading sanctions too (like doping bans for athletes). If all they have to do is pay their way out they will always take the risk of doing
by rorykoehler 12y ago
Banks should receive trading sanctions too (like doping bans for athletes). If all they have to do is pay their way out they will always take the risk of doing illegal business and hope to get away with it. This risky behaviour is so ingrained in the financial industries culture that it's clear the default approach of high risk actions while hoping for the best isn't going to go away without more and more serious deterrents.
This along with heavy prison sentences all 'round should help curb the corruption a little.
- cmdkeen 12y agoThe problem with trading bans is that they effectively kill the bank, or a substantial chunk - which then causes all the knock on effects of a bank failing which might very well be more expensive to the Government / society in the long run. It all comes back to "too big to fail".
- rorykoehler 12y agoThey could be forced to split off the culpable area of the business and sell it at a below market value or even free price.
- ryanlol 12y agoThat's probably a good solution if your intention is to destroy any trust that's left in the banking system.
- rorykoehler 12y agoI have zero trust in the banking system or even the monetary system as it stands. I only partake because I have no other viable choice. The system is so flawed that it's doomed to fail. It's not a question of if but when.