As if the bankers are going to do anything which reduces their fees...
If you fancy giggling over some more dubious financial goings-on, have a look at some recent issues of Private Eye. They've been reporting on the impending IPO of an outfit called Glencore. To hear the Eye tell it, all the bankers have their snouts well and truly in the trough, so the amount of due diligence being carried out is allegedly questionable at best.
( flake has nothing against your right leg, Tue 12 Jul 2011, 13:55, 1 reply)

To a point, Lord Copper
Although the Eye performs a useful service, it's a long way from being a reliable source of fact. While bankers in an IPO are fundamentally motivated by their fee, and anyone who fails to realise that when reading IPO material is a gibbering idiot, they're unlikely to try illegal stuff as policy. Why bother, when you can make enormous fortunes without the chance of jail?

Bankers who do *proveably* criminal things are usually junior-ish, acting solely in their own interests, and often trying to cover up a disastrous fuckup (like Nick Leeson). If you're senior and rich, then you know how not to be proveably criminal.
(stalinism, Thu 14 Jul 2011, 10:52, closed)