
Credit Suisse to Layoff 6500 - wjossey
http://money.cnn.com/2017/02/14/investing/credit-suisse-loss-job-cuts/index.html
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wjossey
This article attempts to correlate the layoffs with the justice department
fine against Credit Suisse. It's unclear to me from the reading how true that
is, but I'd like to pose a hypothetical based on that presumption.

Credit Suisse was heavily penalized for their part and liability in the
financial crisis. As part of their culpability, they were required to pay a
large fine. That fine has some knock down effects in that some percentage of
their workforce is now being laid off (and has been getting laid off for the
past year). So, the fine is getting "paid" by those few thousand employees who
are being shuffled off of the books to balance the cost of the fine.

Is there not a better or more effective way for us to fine and penalize
businesses that perform badly? Maybe the answer is no, but this screams to me
moral hazard.

