The European Tribune is a forum for thoughtful dialogue of European and international issues. You are invited to post comments and your own articles.
Please REGISTER to post.
It's like a spouse discovering that the other spouse is a crook who's defending themselves by saying "You married me for the nice house, so it's your fault I'm a thief."
People are trained - bizarrely - to assume that this economics stuff is far over their heads and they should leave it to the experts without expressing an opinion on it.
But the so-called experts act without oversight or accountability.
When a doctor fucks up badly and kills multiple people, the doctor is - at least - struck off.
Finance has no formal code of conduct, no regulatory body that can ban individuals from working in the industry, and no system for personal accountability when egregious errors are made.
Criminal fraud can be punished, but stupid decisions that ignore even the most basic requirements of due diligence aren't.
Since financiers have no concept of personal responsibility, default isn't just good economic sense, it's also the only option that can send the industry a message about ethical standards.
by Bernard - Apr 23 24 comments
by Frank Schnittger - Apr 22 47 comments
by Frank Schnittger - Apr 18 11 comments
by Bernard - Apr 10 27 comments
by Frank Schnittger - Apr 11 29 comments
by Frank Schnittger - Apr 10 15 comments
by Migeru - Apr 2 17 comments
by Bernard - Apr 2324 comments
by Frank Schnittger - Apr 2247 comments
by gmoke - Apr 22
by Frank Schnittger - Apr 1811 comments
by Frank Schnittger - Apr 1129 comments
by Bernard - Apr 1027 comments
by Frank Schnittger - Apr 1015 comments
by Migeru - Apr 217 comments
by THE Twank - Apr 2
by Frank Schnittger - Mar 2933 comments