It is decidedly not true that “nice guys finish last,” as that highly original American baseball philosopher, Leo Durocher, was alleged to have said. I do not deny that many appear to have succeeded in a material way by cutting corners and by manipulating associates, both in their professional and in their personal lives.
In these cases, the Federal Reserve, as the consolidated supervisor of the banking organization in question, works closely with the primary bank regulator and the Securities and Exchange Commission (SEC) to investigate control breakdowns. The agencies exchange information and compare their findings.