Employees at five banks colluded to earn supranormal profits in rigged markets (nytimes). Presumably they were rewarded by their employers with correspondingly huge bonuses. Those bonuses by now have been turned into beach houses, Gulfstreams, etc. The government comes along more recently and fines “the banks” $5.6 billion. But it seems to me that this fine has … Continue reading How does the $5.6 billion fine against the banks discourage future collusion?