'Zero-loyalty environment' blamed for financial malpractice


Focusing on short-term personal rewards and ignoring long-term institutional risks contributed to the financial crisis – but it was a rational response to the pressures on bank employees, a seminar at the London School of Economics (LSE) heard yesterday.

Author Joris Luyendijk commented that, based on interviews with over 100 participants in the financial sector, "it was striking that almost everyone had a horror story about redundancy – they come back from the gym and the person at the desk

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