Goldman Sachs Finally Admits It Defrauded Investors During the Financial Crisis
The one thing I can never wrap my head around in the banking industry is why this kind of behavior is tolerated by _customers_.<p>Imagine if wherever you work had to settle with the SEC / FTC / ABCXYZ for fraud. Wouldn't this devastate your customer base?<p>Yet when a bank gets fined, it seems simply like business-as-usual. Even when a government agency levies a fine for fraud, or emails are released in which employees actively mock their customers for being suckers, investment banks' abilities to find customers seems unhindered.<p>1) Are my perceptions wrong? Do these events damage reputation more than it seems?<p>2) If banks acting in this manner is the standard... why? Why isn't a firm carving out the "niche" of not being assholes?