Sunday, December 14, 2014

At Big Banks, a Lesson Not Learned

At Big Banks, a Lesson Not Learned: Gretchen Morgenson, NY Times

Are the colossal regulatory fines extracted from big banks today likely to deter their officials from violating the same rules tomorrow? Or are these billion-dollar settlements viewed simply as a cost of doing business, and not a very large one at that?
Judging from a regulatory action brought last week against 10 mostly large financial firms, the answers are “no” and “yes.”