Articles & Blogs, Category = Banking / finance sector

Category: Banking / finance sector

Why Crowdfunding May Not Be the Great Democratising Force in Investment after All

“Initially, crowdfunding brought great optimism that it would have a “democratising effect” on finance. On the one hand it would enable entrepreneurs excluded from traditional sources of finance to attract funding. And, on the other, it would provide new opportunities for people with even relatively modest amounts of money to invest. […] Our work has reviewed the available research on crowdfunding to examine whether this relatively recent method of financing new and small businesses lives up to the lofty claims of democratising investment in the 21st century.”

Grace Blakeley’s ‘Stolen’ Is a Tired Invective against Market Capitalism

“Grace Blakeley’s Stolen: How to Save the World from Financialisation […] is not a good book. Its invective against capitalism cherry-picks the evidence and disregards the dramatic economic growth of non-Western countries, home to 80% of the world’s population, since 1980. Furthermore, the book’s case for a state takeover of most capital allocation in the economy takes no account of the gross mismanagement, environmental degradation, and human suffering associated with twentieth-century experiments with socialism, to which contemporary Venezuela is a particularly tragic sequel.”

Lunch with [Australian] Bankers. Even They’re Unimpressed with Their New Banking Code of Conduct

“The latest version of the code is a revision of the 2013 version – which obviously did not work. This one is better: it is a set of enforceable standards that customers and small businesses and their guarantors can expect from Australian banks. It has been approved by the Australian Securities and Investments Commission. But it has has some gaping holes in it. Let me explain.”

The New Australian Banking Code Looks Impressive, But What Will It Achieve?

“On July 1, the banking industry got yet another code of conduct – its fifth since 1993 […] It got to the point where in 2017-18 the committee said that five banks reported zero breaches of the code’s credit and dispute resolution obligations, and six banks reported zero breaches of their debt collection obligations. This was despite a growing body of evidence of breaches assembled for the banking royal commission.”

Moral Markets Visits….. Book presentation “Finance and the Common Good”

Part 1 of 4 in series "Finance and the Common Good"

Discussions on bankers’ financial rewards, the regulation of banks’ buffers, and fraudulous practices have been ongoing ever since the onset of the financial crisis of 2008. A common thread in this debate is that the financial sector seems/is detached from society’s concerns. This is exactly the topic of the book “Finance and The Common Good” (Amsterdam University Press). On July 3rd the book was presented to Kees van Dijkhuizen, CEO of ABN AMRO bank, an event visited by some 60 participants.

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