On banks and financial institutions, consider how the following might have applied to the "too big to fail" financial institutions in the U.S. a few years ago:
"The management of any systemically important bank that has to be rescued by the state should be disbarred, as a matter of course, from further work in the financial industry. A substantial fine should also be levied. Remember the fundamental point. Big banks have consistently operated in the knowledge that their profits are private and losses, if large enough, public. In other words, the institutions they run are underpinned by the state. Managers are, in an important sense, public servants. If they abuse that trust, they should be treated accordingly."
Digest that. Now consider this list. Discuss!
For now, I will say only this: enforcing Wolf's recommendation certainly could open up lots of job opportunities in finance!
(Of course, the more general equilibrium might instead just result in a much-shrunken financial industry... but that's for discussion.)
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