May
31
Mortgage Bankers and Hedge-Fund Revivals
ByAlso bribery, market structure, VIX, unicorns, lunching and learning and the Bowling Green menagerie.
Jobs for RMBS bankers.
Why do we fine banks lots of money for doing bad things? The fines are more or less paid by the shareholders, and it’s not like the shareholders did the bad things. But in theory, the shareholders don’t want to be fined, so they will hire directors who don’t want to be fined, who will hire executives who don’t want to be fined, who will hire employees who don’t do bad things. The banks are supposed to be integrated rational economic actors that want to avoid fines, and so the fines should deter them from hiring people who will do the things that incur fines…
Mortgage Bankers and Hedge-Fund Revivals
