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Comment on They Thought ‘Crypto Banks’ Were Safe, and Then Came the Crash

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Everyone profiled seems young enough to have time to bounce back.

Separate, but related note: how far down does culpability run? In finance, bonuses and similar are subject to clawbacks in cases of wrongdoing. Should that be the case for senior coders at these firms?

Nice moral question! For me criminal and civil liability: Equity partners / holders - please yes. Non equity and not abundantly proven operating in a criminal activity - please no. The in between - civil action in order to prove intent, not criminal. Culpability is a fluid concept. Once you know it’s fishy and don’t get out you bear a lot of culpability in my book. But if one is working for a wage and working on detailed problems given to you without the big picture (the ‘Snow Crash’-coder) then it’s another case.

At the end of the day most of Western society operates without any repercussions for bankers, government officials etc for what I perceive as corrupting behavior. The powers that be seem fine with that and even in countries where populists come to power, that balance hardly seems to move. I don’t think I can expect balanced law and order reform from populists, but I keep hoping. Rome got it right a few times in their thousand year empire (not to mention the many centuries where they got it wrong from the common man’s perspective).

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