Systemic operational risk since the financial crisis
A year of huge fines and settlements has thrown new light on the importance of controls and conduct risk
The financial crisis in late 2008 started with the collapse of the housing market in the US, and more than five years later banks are still paying for their alleged role in the subprime mortgage bubble that helped inflate house prices. The general public view remains that bailouts for many of the big banks meant they were never made to suffer for their role in creating the subprime housing bubble
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