Settlements didn’t change Mr Weinstein, why would they change the banks?

I sincerely hope the world’s regulators have been watching the Harvey Weinstein implosion closely. If they put their mind to it, they might just learn a few things:

  1. If a man acts criminally and there are no material consequences, he will keep acting the same way
  2. Closed door financial settlements keep bad behaviour in the dark, and don’t deter further misbehavior
  3. On the other hand, some sunlight on criminality can very quickly remove a man from his position in power and polite society