CD Projekt - Stock Exchange Supervision Investigates

Well, I certainly support the breakup and separation of the too-big-to-fails. I don't know what we should call a system whereby the state dare not prosecute or let fail reckless speculators, but it sure ain't capitalism.

I think $10,000 for a technical violation without intent would be acceptable for CDPR, but anything crippling would be grossly unfair.

The thing is, before I had a radical change of career, I used to work on the trading systems of Citibank London. A more depressing, cynical and venal culture would be hard to imagine. There was a widespread smirking, winking contempt for honesty and responsibility, and the crash seemed almost inevitable. My perspective is that the financial and corporate world is systemically crooked, and proper accountability and punishment is the exception not the rule. I'm not in favour of anyone gaming the system, but it would stick in my craw iif they made an example of a little guy.

To me the bigger problem isn't the crookedness but going back to the 90s, we've created a corporate culture where moral hazard is dead. Gamble and win? Big payday. Gamble and lose? You can count on the Greenspan put, the bailout or something else.

blatantninja said:

we've created a corporate culture where moral hazard is dead.

Click to expand...

I completely agree. And this in turn has created a culture of hit-and-run behaviour. We wouldn't have to go too far back in time to see a culture where the strategic/economic future of the nation would figure in the policy-making around banks and business. This is long gone, replaced with a globalised casino where consequences beyond the big score are irrelevant.

History repeats itself. The British empire began to lose its position as it sat back in the City of London, having great fun investing in imperial trade opportunities, while places like Germany and the US were building up their industries and infrastructure. It found itself entirely out-gunned by the 20th Century.

blatantninja said:

To me the bigger problem isn't the crookedness but going back to the 90s, we've created a corporate culture where moral hazard is dead. Gamble and win? Big payday. Gamble and lose? You can count on the Greenspan put, the bailout or something else.

Click to expand...

Yes, it is a horrible culture in those places Besides when you do everything with the computer, it becomes like a "game" for some.