"I just don't think that it is all that is cracked up to be when it comes to solving the problems; the reason being that the deep origin of the problems are to be found in the nexus of human nature and sheer statistics: when you have large numbers of people involved (especially when that involvement relates to the sordid subject of money) you will always get a certain % of them doing criminal things, and an even bigger % of them doing just plain dumb things."
I've had a few glasses of red (nice Spanish tempranillo), but hopefully I'll make some sense.
I don't disagree with you
@madamswer, and I have much sympathy with your perspective. But I take a slightlty different view on the root cause of the problem.
Yes, human nature is what it is, and a big spotlight on a large organisation will always bring up issues (weather it's the Catholic Church, the Salvation Army, the RSL, AMP or the CBA).
The question is whether or not there are systemic issues at play that are aligned with the worst of human nature. Ultimately, it comes down to incentives, and agency risk. Do the agents get much of the upside, but little of the downside?
Of course, the issue goes far beyond "the big banks", and extends to the corporate world generally. And don't get me wrong, investors that care not a jot about corporate integrity on the way up, but scream injustice on the way down, are a big (probably the biggest) part of the problem.
That said, when fat cats who place far more weight on the perks of office, than on the responsibilities of office, ars put under scrutiny, I just can't help but get excited (witch hunt or not).
