Financial wrongdoing persists when wrongdoers are sheltered from consequences

Evidence

A uniquely striking feature of the catastrophe is that the finance industry, through its reckless practices, caused a global financial disaster without anyone being held responsible for it. It was widely assumed that the massive financial collapse would force a wave of reform. Instead, it left a catastrophe with no guilty parties. Wrongdoers do not change when they are sheltered from the consequences of their harmful conduct. As a result, the basic structure of the industry remains essentially unchanged. — Albert Bandura, Moral Disengagement, 1564 (#corroborates, via linked claim)

Categorization

• XREF: connects to: Disguising corrupt payments as legitimate weakens moral restraint over wrongdoing — Albert Bandura, Moral Disengagement: How People Do Harm…, 1465; De-regulation created a criminogenic environment allowing mass financial wrongdoing; Sheltering wrongdoers from consequences prevents reform and preserves harmful structures — Albert Bandura, Moral Disengagement: How People Do Harm…, 1564 (+6 more)

Broader Connections

• Sheltering wrongdoers from consequences prevents reform and preserves harmful structures #corroborates (0.95) — Albert Bandura, Moral Disengagement, 1564