Let the Market Punish Corporate Mistakes, Not the Government

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What keeps the CEOs of financial institutions awake at night? One or two errant employees out of tens of thousands can bring down the franchise.

What robs financial institution heads of sleep explains the superfluity of governmental punishment for errors inside financial institutions. Think what happened to Wells Fargo in 2018. What the federal government did to the financial services giant was disturbing then, and it still is now.

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