Tuesday March 24, 2009
Wall Street's Economic Crimes Against Humanity
Shoshana Zuboff
Business Week
By refusing to consider the consequences of their actions, those who created the financial crisis exemplify the banality of evil, writes Shoshana Zuboff.
The financiers at AIG were awarded millions in bonuses because their contracts were based on the transactions they completed, not the consequences of those transactions. A 32-year-old mortgage broker told me: "I figured my job was to get the transaction done ... Whatever came after the transaction - that was on him, not me."
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