Lets end this rotten culture that only rewards rogues | Will Hutton | Comment is free | The Observer

by peterjukes

Much has been said about the rotten culture in investment banking – now from both the prime minister and the governor of the Bank of England. But the regulators, the British government and bank managements – all genuflecting to the wisdom of the age that free markets make no mistakes – allowed a business model to be created in which men and women with very little skill and no moral compass could make themselves millionaires in a very short time. They contributed zero wider economic value but created immense systemic risk for the rest of the economy.

via Lets end this rotten culture that only rewards rogues | Will Hutton | Comment is free | The Observer.

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