After a second week of humiliating stories of banks gone bad (remember, it's all of them - not just the ones who have been caught and grilled in the public spotlight), financial commentators start to ask the 'unaskable'.
Here's James Saft writing for Reuters:
"Never mind that our largest banks are too big to be allowed to fail, they show every sign of being too big for investors...they aren’t just risky and volatile, but often badly managed and highly likely to produce further scandals in which insiders gain at the expense of everyone else in the capital structure."
Maybe this head-in-the-sand mentality will finally be broken on the role of banks in financing an unsustainable future, too. Just maybe.
Here's James Saft writing for Reuters:
"Never mind that our largest banks are too big to be allowed to fail, they show every sign of being too big for investors...they aren’t just risky and volatile, but often badly managed and highly likely to produce further scandals in which insiders gain at the expense of everyone else in the capital structure."
Maybe this head-in-the-sand mentality will finally be broken on the role of banks in financing an unsustainable future, too. Just maybe.
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