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Are Bankers Good or Bad for Society (download)
 

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

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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  • Thanks Sriram

    I shall do that in the not too distant,

    Chris
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  • great piece of work. Would be good if you can add some stuff on the effects of this banking crisis on emerging markets.
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    Are Bankers Good or Bad for Society (download) Are Bankers Good or Bad for Society (download) Presentation Transcript

    • Are bAnkers good or bAd for society? Chris Skinner, www.thefinanser.com Gresham College, 26th October 2009
    • Socially useful? “Some of it is socially useless activity” Adair Turner
    • “Banks have chased short term profits by introducing complex products of no real use to humanity” Stephen Green
    • “Don’t have headlines saying banks are ‘socially useless’, because they ain’t.” Victor Blank
    • “As society, we have benefited hugely from innovation and financial services is at the forefront.” Win Bischoff
    • AgendA bAnking is essentiAl for society bAnkers role in society bAnkers morAls And ethics bAnking for good or for bAd bAnkers todAy bAnkers tomorrow
    • revolutions Formalising commerce – the first time agriculture www.balatroltd.com
    • www.balatroltd.com
    • A Babylonian shekel coin minted much later under Persian rule (c. 300BCE).
    • http://www.josephinemaisonet.com/Photos/G oddesses/Inanna.jpg
    • AgendA bAnking is essentiAl for society bAnkers role in society bAnkers morAls And ethics bAnking for good or for bAd bAnkers todAy bAnkers tomorrow
    • “The most common communicatio problems that create stress in a marriage are usually related to finances and sex” www.divorce.com
    • AgendA bAnking is essentiAl for society bAnkers role in society bAnkers morAls And ethics bAnking for good or for bAd bAnkers todAy bAnkers tomorrow
    • My house was designated a house of prayer; You have made it a hangout for thieves.
    • UsUry
    • AgendA bAnking is essentiAl for society bAnkers role in society bAnkers morAls And ethics bAnking for good or for bAd bAnkers todAy bAnkers tomorrow
    • leverAge
    • risk
    • herd
    • Lex Pompeia
    • complexity
    • AgendA bAnking is essentiAl for society bAnkers role in society bAnkers morAls And ethics bAnking for good or for bAd bAnkers todAy bAnkers tomorrow
    • My role is to “find the chinks in the regulators’ armour” Salomon’s General Counsel, Donald Feuerstein
    • “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
    • “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
    • “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
    • leverAge risk herd complexity
    • leverAge networked complexity
    • Banks have written off $1.6 trillion so far Bloomberg
    • Our regulators were “asleep in the back shop while there was a mugging out front” John McFall
    • “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!”
    • AgendA bAnking is essentiAl for society bAnkers role in society bAnkers morAls And ethics bAnking for good or for bAd bAnkers todAy bAnkers tomorrow
    • “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
    • “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
    • Victor Blank “You have to find where the problem lies ... Investment banking”
    • “Financial services innovation must be performed with foresight and regulation.” Win Bischoff
    • http://thefinanser.co.uk/fsclub/2009/02/the-new-eu-regulator-and-liquidity-risk.html
    • The Value of Bank Brands 2009
    • conclUsions
    • “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.”
    • “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
    • “Be greedy when others are fearful and fearful when others are greedy.” Warren Buffett
    • Are bAnkers good or bAd for society? Chris Skinner, www.thefinanser.com Gresham College, 26th October 2009