Are Bankers Good or Bad for Society (download)
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Comprehensive presentation with script found at http://thefinanser.co.uk/fsclub/2009/11/bankers-good-or-evil-the-full-monty.html
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Are Bankers Good or Bad for Society (download)
- 1. Are bAnkers good or bAd for society? Chris Skinner, www.thefinanser.com Gresham College, 26th October 2009
- 2. Socially useful? “Some of it is socially useless activity” Adair Turner
- 3. “Banks have chased short term profits by introducing complex products of no real use to humanity” Stephen Green
- 4. “Don’t have headlines saying banks are ‘socially useless’, because they ain’t.” Victor Blank
- 5. “As society, we have benefited hugely from innovation and financial services is at the forefront.” Win Bischoff
- 7. AgendA bAnking is essentiAl for society bAnkers role in society bAnkers morAls And ethics bAnking for good or for bAd bAnkers todAy bAnkers tomorrow
- 9. revolutions Formalising commerce – the first time agriculture www.balatroltd.com
- 11. A Babylonian shekel coin minted much later under Persian rule (c. 300BCE).
- 16. AgendA bAnking is essentiAl for society bAnkers role in society bAnkers morAls And ethics bAnking for good or for bAd bAnkers todAy bAnkers tomorrow
- 21. “The most common communicatio problems that create stress in a marriage are usually related to finances and sex” www.divorce.com
- 27. AgendA bAnking is essentiAl for society bAnkers role in society bAnkers morAls And ethics bAnking for good or for bAd bAnkers todAy bAnkers tomorrow
- 31. My house was designated a house of prayer; You have made it a hangout for thieves.
- 32. UsUry
- 33. AgendA bAnking is essentiAl for society bAnkers role in society bAnkers morAls And ethics bAnking for good or for bAd bAnkers todAy bAnkers tomorrow
- 35. leverAge
- 38. risk
- 43. herd
- 45. Lex Pompeia
- 49. complexity
- 52. AgendA bAnking is essentiAl for society bAnkers role in society bAnkers morAls And ethics bAnking for good or for bAd bAnkers todAy bAnkers tomorrow
- 56. My role is to “find the chinks in the regulators’ armour” Salomon’s General Counsel, Donald Feuerstein
- 57. “In our view, derivatives are financial weapons of mass destruction, carrying dangers that, while now latent, are potentially lethal. Warren Buffet Berkshire Hathaway Annual Report, 2002
- 58. “It is not that humans have become any more greedy than in generations past. It is that the avenues to express greed have grown so enormously.” Alan Greenspan July 2002
- 59. “It is not that humans have become any more greedy than in generations past. It is that the avenues to express greed have grown so enormously.” Alan Greenspan July 2002
- 67. leverAge risk herd complexity
- 69. Banks have written off $1.6 trillion so far Bloomberg
- 73. Our regulators were “asleep in the back shop while there was a mugging out front” John McFall
- 74. “A British bank is run with precision A British home requires nothing less! Tradition, discipline, and rules must be the tools Without them - disorder! Chaos! Moral disintegration! In short, we have a ghastly mess!”
- 76. AgendA bAnking is essentiAl for society bAnkers role in society bAnkers morAls And ethics bAnking for good or for bAd bAnkers todAy bAnkers tomorrow
- 77. “For people to have been selling products which they neither knew or understood – or, worse, did know and none the less did sell – is a profoundly moral issue.” Ken Costa
- 78. “To restore trust and confidence, we will need to recognise the moral dimension of what has happened, and to restore a proper sense of values in our corporate lives” Stephen Green
- 79. Victor Blank “You have to find where the problem lies ... Investment banking”
- 80. “Financial services innovation must be performed with foresight and regulation.” Win Bischoff
- 91. The Value of Bank Brands 2009
- 95. conclUsions
- 98. “If this crisis leads to a genuine reassessment of the role of ... banking ... it may come to rank as one of the great turning points in history.”
- 99. “The financial sector that is emerging from the crisis is even more riddled with moral hazard than the one that went into it.” Martin Wolf
- 100. “Be greedy when others are fearful and fearful when others are greedy.” Warren Buffett
- 102. Are bAnkers good or bAd for society? Chris Skinner, www.thefinanser.com Gresham College, 26th October 2009