Page 29 - Monocle Quarterly Journal Vol 1 Issue 1 Q4

managed by regulators, hypothetical tests can alter one’s shareholder return, and multiples more than was previously spent on compliance is now required to even hope to meet regulatory requirements.
It would take an ingenious argument to demonstrate that free-market capitalism exists in the banking industry today. Had the punishment just been taken once and for all in 2008, that shareholder in Kentucky might just be getting his dividend today.
“It would take an ingenious argument to demonstrate that free-market capitalism exists in the banking industry today.”
BANKING: the pRISoNeR’S dIlemmA
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