An alternative hypothesis, which seems to fit the facts, recently emerged from the Paul Woolley Centre for the Study of Dysfunctionality in Capital Markets, at the London School of Economics. Researchers there argue that in fragile speculative industries (and finance has certainly been in that category in recent years) it is hard for investors to monitor those who manage their money.
Le Centre Paul Woolley pour l'étude des dysfonctionnements des marchés financiers de la London School of Economics a formulé récemment une autre hypothèse qui semble bien cadrer avec les faits.