tag:blogger.com,1999:blog-1764328218611568829.post7386649388565720294..comments2024-03-13T19:49:05.520-07:00Comments on The Adventures of Shylock Holmes: Morgan Stanley is not your friendShylock Holmeshttp://www.blogger.com/profile/00446165270035271752noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-1764328218611568829.post-9956577127570607682013-06-04T04:15:19.952-07:002013-06-04T04:15:19.952-07:00In the end, the banks got fined under the 'don...<i> In the end, the banks got fined under the 'don't be a dickhead' provisions of their respective market regulations...which is very different to having to establish proof re the anti-competitive offences.</i><br /><br />True story. Yeah, there's always a set of catch-all offenses that most governments keep up their sleeves as a last resort to crack down on behaviour they don't like. In the personal sphere, fraud (anything vaguely dishonest) and disorderly conduct (whatever johnny copper doesn't like) always seemed outrageously broad when you looked at the actual text of the law. It doesn't surprise me they'd have something similar for banking.Shylock Holmeshttp://shylockholmes.blogspot.com/noreply@blogger.comtag:blogger.com,1999:blog-1764328218611568829.post-23496483222567206712013-06-02T20:53:27.963-07:002013-06-02T20:53:27.963-07:00Hector Lopez:
The Atlantic article is interesting...Hector Lopez:<br /><br />The Atlantic article is interesting. The author of the article seems to have a singular focus on the failure of the anti-competitive actions...when it was quite evident that those actions weren't the strongest. In the end, the banks got fined under the 'don't be a dickhead' provisions of their respective market regulations...which is very different to having to establish proof re the anti-competitive offences. In the end, you can only play the game within the rules set by the regulator. <br /><br />On a slightly different note though, but on the same topic of banks behaving badly:<br /><br />http://www.theage.com.au/business/profit-above-all-else-how-cba-lost-savings-and-hid-its-tracks-20130531-2nhde.html<br /><br />Anonymousnoreply@blogger.com