The King’s New Clothes – Market abuse by fiduciaries unacceptably high.

It’s still the same old story.  Despite economic recession, trillions of your euros, dollars, clams being spent to prop up the financial system, the prevalence of abuse by fiduciaries has not declined.  Bankers, stockbrokers, insurance companies, the whole lot of them (except, of course, the few with integrity, like you – ha ha) continue to nurture a system of inequity.

It is the system which is corrupt as long as the few good people allow themselves to play the game the same way as the majority of careless abusers.  Until we overcome the natural, primitive urges of greed and fear, the system will not operate with transparency and equity.

Another meltdown in the offing?  It’s happened before.

BBC: UK market abuse ‘unacceptably high’, says FSA boss

BBC: Lehman Brothers’ former heads criticised for lapses

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