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blackbootz  ·  2393 days ago  ·  link  ·    ·  parent  ·  post: $13B fine to hide wrong-doing, turns out to be a deal

    "we shouldn't be doing this business because it will be expensive."

And that's the purpose of regulation or socialization. Internalizing the externalities; hoisting on balance sheets the cost of psychopathy so it's a little less sexy. Too bad that, at the highest levels, that sort of regulation can only be retrospective and so requires enormous bad behavior to be spotted after the damage is done. And at the highest level, the damage is systemic :(