With the caveat that I’m not necessarily saying it’s the best option (for a variety of reasons), but unless authorities go after the heads of huge financial institutions, claw back money ill earned, impose realistic criminal penalties, very little of what caused the real estate and banking crises is ever going to change. The culture, the most powerful of influencers, flows from the head down and in this instance is long and deep entrenched
The recent $13 billon settlement between JP Morgan chase and the Justice Department is a case in point. Just looking at where that organization is now verses before the crises tells you that their risky behavior was well worth this "punishment." There has been no real “teaching moment” here. Incentives and culture (both corporate and broader societal) have been veering off the proverbial tracks for decades. A few years or rogue repercussions will not change that