CHAPTER 9
The New Names of the Game
During this reset of finance, the temptation to be prescriptive is natural. The hope to resolve everything through regulation is inevitable at times. But it would be regrettable if we were to discharge financial players of their responsibility. The perception that this was happening, particularly during the bank bailouts, was a significant contributing factor to the diminution of trust in the system. The challenge we face is how best to realign incentives and consequences.
Reestablishing a Culture of Responsibility
The issue of bankers’ remuneration is a textbook question. I remember having had a debate on this topic in 2008 with reputable consultants. I felt that the problem of financiers was not so much their ...
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