Most people in finance think they can make money off loopholes and borderline-legal conduct, and even the semi-honest ones have anti-regulation brainworms. On top of that, they have the classic capitalist inability to weigh small, short-term costs (regulatory hassle) accurately against big long-term risks (getting fucked in a financial crisis).
Most people in finance think they can make money off loopholes and borderline-legal conduct, and even the semi-honest ones have anti-regulation brainworms. On top of that, they have the classic capitalist inability to weigh small, short-term costs (regulatory hassle) accurately against big long-term risks (getting fucked in a financial crisis).
I was more pointing out that the root cause of financial crimes is capitalism, but yes, also all of the above.