Michael L. Mayo, CFA, explains factors in the banking industry that led to the financial crisis, including dodgy accounting, the separation of risk from reward, outsized executive pay, and the factors that still exist today...
Michael L. Mayo, CFA, explains factors in the banking industry that led to the financial crisis, including dodgy accounting, the separation of risk from reward, outsized executive pay, and the factors that still exist today. Additionally, he discusses the lack of management transparency and other information obstacles that hinder objective analysis, while proposing various solutions to the problems.