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June 28, 2012

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Ian C

Brilliant and exactly to the point - thanks.

The difference between Euro- and Chicago neoliberalism can be seen as an ethical failure. In the former, ethics at least has a chance of playing a part, in the form of law, even if this generates a very hollowed-out form of ethics ('I observed the legal requirements at all times' becomes a common statement of debased professional ethos). In the latter, ethics is simply beside the point, as you explain. Hence Bob Diamond, when asked to talk about ethical lapses in banking, always sounds like a man who is speaking in a foreign language from cue cards he barely understands.

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