My comment is not about failure, it's about what is wrong with wall st's crony capitalism. this has nothing to do with failure, but about the lack of values, and the damage this has done to the world economy at so many levels.
Certainly not arguing with any of your points; I'm saying the things that happened could rightly be construed by investors as types of failure (e.g., "Citigroup wrote-off the entire fund") which is one of the reasons the law might apply. I'm talking about perception from a particular perspective, not the ethics.
I understand what you mean, and agree to a very large extent with the that line of thought. My concerns with Pandit are not so much on failure, but fraud and mismanagement.
