From Daily Markets:
Despite all the supposed lessons learnt exercises, managements of major firms are still taking some decisions which cannot be judged prudent,” said U.K.’s Financial Services Authority Chief Executive Hector Sants…
Most major institutions have a ’set of values’ to which they ascribe, Sants noted. But there exists a gap between what they claim to believe and what they actually do. He said, “These values also tend not to be aligned or ‘lived’ by the employees meaning the firm does not ‘practice what it preaches’.”
Plus ça change (plus c’est la même chose).