Why bank execs should take the blame for the crisis

Rather good piece by William D Cohan in the New York Times, explaining what caused the US banking crisis and why executives are responsible. They were not buffeted by forces beyond their control, Cohan argues, but victims of their own bad business decisions, for which they were paid handsomely.

The same applies, of course, to the geniuses who have run our own Old Mutual into the ground…

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