Tuesday, July 22, 2014

Did the banks have to commit fraud?

Click here to access article by Dean Baker from Real-World Economics Review Blog.  




The brief article provides an obvious explanation as to why they did: the rewards and punishments in a capitalist dominated society induced banksters to commit crimes--as they will continue to do in the future. 
Citigroup’s settlement will not change the tradeoffs from what Citigroup’s top management saw in 2006. As a result, in the future bankers are likely to make the same decisions that they did in 2006.