Stiglitz says 'Send Bankers to Jail', article.
Nobel Prize winner and former World Bank economist Joseph Stiglitz [...] argued (with Barclay's as just the most recent example) that bankers -- without threat of prosecution or jail time -- would continue to use their elevated status to exploit weak regulations, consolidate power, and avoid accountability.
4 comments:
I can't imagine Stiglitz is wrong about that. After all, didn't he once run the World Bank?
Everybody is crooked if they can get away with it. Only in the top, the numbers are much bigger.
hopefully banks will lose their advantaged positions now that decentralized digitalised currency is here and middlemen are no longer neccasary
Fascinating video that explains the Libor story.
http://youtu.be/0oV2mI0IYp8
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