IKB: all for one

Stefan Ortseifen is no Bernie Madoff. His name doesn’t have the same global recognition, let alone the infamy. But the former chief executive of Germany’s IKB is the first big bank boss to face jail time on charges linked to a lender’s collapse. He may end up performing a similar function in the crisis and its aftermath as the New York Ponzi master. Bank CEOs haven’t gone unpunished. Many have paid for their recklessness with their jobs, net worth and legacies. A few have to live with the blame...