Can The Investment Industry Police Itself? Its Record Is Spotty

I was reading some articles I saved recently and come across a flurry of reports, talking about fines levied upon some of the biggest names in financial services. Various courts and industry regulators levied billions of dollars in fines on some of the biggest names in the business, mostly stemming from the market collapse in 2008 and subsequent Great Recession. The hits are still coming. Recently, the Federal Deposit Insurance Corporation started legal action against 16 of the world’s largest banks. They allegedly manipulated the LIBOR rate—just the latest action involving a scandal affecting some $300 billion in securities, according to Forbes. More on Forbes here.