George ILIEV
Bumblebees rob flowering plants of their nectar by cutting holes on the side of the flower, rather than entering through the pollen-covered opening as the other bees and insects do. As a result, bumblebees do not contribute to the pollination of the plant. This was known to Darwin 150 years ago. A recent discovery, however, shows that this behaviour is not innate: bumblebees learn from other bumblebees how to rob flowers. This has been proven by the fact that the hole is always cut on the same side (right or left) of all flowers in a given meadow - a sign that the flower-cutting technique is being passed from one bumblebee to another.
In a similar way, investment banks did not invent independently the plethora of rent-seeking financial innovations that led to the 2007-08 financial crisis. They copied each other. Once an instrument, such as the securitisation of subprime mortgages, collateralised debt obligations (CDO), or credit default swaps (CDS) appeared at one bank (usually in America), the others would copy the model so as not to lag behind. Thus by robbing their gullible clients (referred to as "Muppets"*), they damaged the global financial system - just like the bumblebees hinder the pollination of plants and reduce the efficiency of their ecosystem.
*Investment Bank Goldman Sachs came in the news in 2012 with the nickname bankers gave to unsophisticated clients who could be easily taken for a ride: Muppets.
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