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Competition Won't Make Investment Firms Transparent

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Let's not forget that heated, intense competition is what brought us the banking crisis. Competition between banks - to be the biggest, the most profitable - stoked the selling of inappropriate mortgages, PPI and interest rate manipulation. Competition between traders or between salespeople - many of whom are measured daily by their earnings, with some firms posting these numbers publicly - is precisely what drove otherwise good people to do bad things.

 

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