Big business cannot be trusted to do the right thing. Its as simple as that. Nearly all large organizations are doing something wrong or illegal for their own benefit.
We have to stop trusting them to look after themselves. We have to stop fooling ourselves by thinking that markets regulate themselves.
As evidenced in this article the electricity market didn’t regulate itself. JPMorgan manipulated it. Illegally. Eventually they got caught. Most don’t.
The thing that gets overlooked in stories like this is that they DID illegally manipulate the electricity market.
JPMorgan Chase illegally manipulated the electricity market.
___________ illegally manipulated the ___________ market.
You can fill in the blanks with tons of names of big banks and other corporations and the name of any market out there.
Its so easy to overlook the fact that businesses are regularly flouting the law for financial gain.
NYTimes: JPMorgan Looks to Pay to Settle U.S. Inquiries