Even more directly, the report directly chastises the university's board of trustees for a failuretoexercise its oversight functions and its dereliction in ensuring that it was appropriately and adequately informed of risks to the university.
The failure of banks to self-regulate on bonuses, or toexercise restraint, has now resulted in a bonus cap with a one-to-one salary-to-bonus ratio, which aims to put an end to the excessive risk culture which lead to taxpayer bail-outs and bank collapses.