bankers perpetrated one of the greatest episodes of self-dealing in financial history.
Faced with increasing difficulty in selling the mortgage-backed securities that had been among their most lucrative products, the banks hit on a solution that preserved their quarterly earnings and huge bonuses:
They created fake demand.”

The best thing we could do is to rid ourselves of all regulations, knowing that when left to their own  self governance, corporate managers will always do the right thing. Sure they will!
This story, while not the least bit surprising, should blow another hole in any (libertarian) theory that the players in a “free market” will choose to be honest and will be preeminently concerned about maintaining their reputations in order to attract more (voluntary) business.