There are honest people, and there are dishonest people, a whole spectrum. I like to think I am near the honest end, I would have worn a white hat in the old cowboy movies. And I've had the misfortune to have met a few from right up close to the other extreme, with the black hats. Most people wear hats of various shades of grey.
High finance is a business which encourages people to shift towards the dishonest end of the spectrum by putting temptation in their way, and the dishonest are drawn to this field by its quick and easy rewards. Nothing that I have ever seen in investment banking and fund management has impressed me as a disincentive to crooked behaviour, absolutely nothing.
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