by Teeka Tiwari
Sometimes, a $1.4 billion fine is just the price of doing business.
For most companies, it’d be a death blow. But for Wall Street bankers, it’s barely a slap on the wrist.
Let me explain…
After decades of bad behavior, Wall Street’s misconduct truly got out of hand during the dot-com bubble in the late 1990s. It was so bad, the Securities and Exchange Commission (SEC) launched one of the biggest investigations in its history.
In 2003, the SEC hit Wall Street and 10 of its biggest bankers with a $1.4 billion fine.