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May 23, 2015

The Big Banks Are Corrupt -- and Getting Worse

Our banking system has a design problem, because its incentives are broken. Financialization is stifling the productive economy. And the systemic threat posed by our biggest banks has made them immune from real punishment. These massive financial institutions don't need a PR campaign. They need to be cleaned up -- and they need to be broken up. "If you ain't cheating," said one of the traders involved in the currency exchange scandal, "you ain't trying." If we're not addressing the financial sector's systemic threat to our economy, of its affronts to our system of justice, then we ain't trying either.

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