Some blame the financial crisis on a misalignment of interests between banks' executives, focused on short-term gains, and their longer-sighted shareholders. The problem now is that the goals of owners and managers are too well aligned. Both want to husband capital and lend carefully. That puts them at odds with everyone else.rnHow else to explain another week of bail-outs, billion-dollar losses and brutal bank sell-offs? Start with the bail-outs. On January 15th the Irish government announced the full nationalisation of Anglo Irish Bank, the country's third-largest lender.
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