Layoffs are capitalism and efficiency and all that so nothing to hold against GS but I find it strange how difficult it is to disloge the upper echelons even after unethical, reputation damaging and near criminal activities.
The banks then pay billions of dollars in fines. And this time the smug ones do not weigh in with their usual acerbic insights about shareholder interests, other wise used to justify such shareholder interest saving measures as firing workers on christmas.
The executives lose nothing, do not get prosecuted and walk away with hundreds of millions of dollars and no one is in any particular hurry to fix this persistent agency problem in capitalism.
A certain segment of the population always appears to be immune to the rules that apply to the rest, whatever the dispensation. They rules don't apply or there is always just enough leeway designed in to let them through.
>Layoffs are capitalism and efficiency and all that so nothing to hold against GS but I find it strange how difficult it is to disloge the upper echelons even after unethical, reputation damaging and near criminal activities.
I think capitalism is best understood as a system that first, last and always enshrines that upper echelon. Associating capitalism primarily with efficiency or even commerce is the precise error producing any "strangeness". Nothing is strange about it doing what it's there to do first: produce wealth for the upper echelon, such wealth legally taken from the producers.
The banks then pay billions of dollars in fines. And this time the smug ones do not weigh in with their usual acerbic insights about shareholder interests, other wise used to justify such shareholder interest saving measures as firing workers on christmas.
The executives lose nothing, do not get prosecuted and walk away with hundreds of millions of dollars and no one is in any particular hurry to fix this persistent agency problem in capitalism.
A certain segment of the population always appears to be immune to the rules that apply to the rest, whatever the dispensation. They rules don't apply or there is always just enough leeway designed in to let them through.