Crime and leniency
After armed robberies, banks give out loans on better terms
“YOU can’t rob a bank on charm and personality,” noted Willy Sutton, the prolific American criminal whose tool of choice was a Tommy gun. No matter how likeable the larcenist, a stickup is invariably an unpleasant experience for employees. According to a new paper* by Paola Acevedo of Tilburg University and Steven Ongena of the University of Zurich, the trauma affects how bankers subsequently do business.
This article appeared in the Finance & economics section of the print edition under the headline “Crime and leniency”
From the September 12th 2015 edition
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