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Paul Volcker on conflicts, ethics, and the US banking industry

The whole industry has become more complex, big banks are bound to have conflicts of interests, and bankers should be legally and morally responsible. says former Fed chairman

Mike Mayo

Published Sat, Mar 16, 2019 · 5:50 am
Mr Volcker: "There was concern by the 'old timers' about introducing incentive pay criteria, how that would be the end of 'honest banking'. The amount of pay involved is worrisome, but it also mirrors what is going on outside the banks."

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