Bankers somehow ‘not responsible’ for a banking meltdown?
If you believe that, I’ve got a bridge I can sell you.
They absolutely knew. They made obscene profits and passed the costs, risks and losses downstream to a greater fool. Nobody was holding a gun to their head. When the house of cards blew up in their face, they feigned ignorance.
Historically, banking has been a conservative field, and a greater burden of trust is put upon corporations operating as banks because they hold our money. It was never okay to operate with the recklessness of a casino.
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More important question:
Are owners, managers and employees of corporations so completely shielded from liability as to be ‘Not Responsible’ for the conduct of their firms? Bankers somehow not responsible for a banking meltdown?
How fucked are we if corporations aren’t responsible for their actions? Every cost, pollutant, risk or hazard of consequence will be passed off downstream to some other balance sheet, or onto the public’s balance sheet.
