The very root of the problem is the profit motive of an industry often charging an egregious amount of money for doing nothing
In the 2001 Australian film The Bank, a bank CEO has hold of research suggesting with certainty that a massive stock market crash is about to occur. Rather than publicise the advice he suggests the bank take advantage and make a massive profit out of the crash. When a board member suggests they have a duty to the public to release the information, he replies he only cares about the shareholders – “They are our people. They are our ‘society’. The public can take care of themselves.”
The final report of the Hayne royal commission into misconduct in the banking, superannuation and financial services industry shows that this view was not the stuff of fiction.
Continue reading...from The Guardian http://bit.ly/2Gm0Fss
via
0 Comments