The Importance of Justice in the Economy

UBS just buys credit Swiss for $3 billion. Credit Swiss, do you know much they paid in criminal fines over the large since 2002? How much? 11.4 billion,. three times as much as the price. In other words, they dug the wrong grave. So my point is that if they had just committed half as many crimes, they'd have $5.5 billion and they could have saved themselves.