Bad Apple Theory of financial crises4 min read . Updated: 30 Mar 2016, 01:50 AM IST
If all those that committed illegal behaviour had been locked up, the crisis would still have been as big
There is a moment soon after major financial crises erupt when it dawns on public officials what went wrong. They draw up ambitious plans for meaningful change but these plans are soon rolled away as the wider society adopts what I call “The Bad Apple Theory of Financial Crises".
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