Articles & Blogs, Category = Banking / finance sector

Market Rules: A Discussion on the US Banking System with Professor Mark H. Rose

“The US banking system includes a few giant “financial supermarket” institutions and thousands of small community banks. This unique structure has been shaped by more than a century of political dealmaking. In his new book, Market Rules: Bankers, Presidents, and the Origins of the Great Recession (University of Pennsylvania Press, 2018), Mark Rose discusses the politics that have shaped the banking system. From political battles fought to overturn federal Glass-Steagall Depression-era restrictions and state prohibitions against branching to more recent postcrisis fights to repeal Dodd-Frank regulations, Dr. Rose recounts the arguments, politicians, and bankers that shaped the industry over the past half century.”

What Are We Teaching in Business Schools? The Royal Commission’s Challenge to Amoral Theory

“The banking royal commission has seen spectacular resignations, calls for changes in the law, and calls for cultural change within banks. But what about changes in education, which is where much of what’s wrong begins? Business schools teach the people who will one day be the managers and leaders who run banks and other financial institutions. They have had a hand in driving much of what came before the commission – the prioritisation of profit (ends) over how people are treated (means).”

It’s Unanimous: Economists’ Poll Says We Can Fix the Banks. But That Doesn’t Mean We Will

“After three years and 35 polls, the Economic Society of Australia has received its first-ever unanimous response to a survey question. It asked just over 50 of Australia’s leading economists to respond to this statement: There is no way to significantly increase the degree to which Australian retail banks act in the interests of consumers.
Twenty did. All rejected the proposition that nothing could be done. But there was widespread disagreement about what should be done.”

Six Questions Australian Banks Need to Answer to Regain Trust

“After today’s Banking Royal Commission’s final report it may seem as if it is impossible for banks to regain trust. But it is possible, as I know from working with prominent British and European banks after the global financial crisis, taking part in policy meetings at the UK parliament about how to restore trust, and researching cases of trust repair. Here are the six most important questions our banks will need to answer for their stakeholders to regain trust”

The State of Socially Responsible Investing

“investors are increasingly conscious of the social and environmental consequences of the decisions that governments and companies make. They can be quick to punish companies for child labor practices, human rights abuses, negative environmental impact, poor governance, and a lack of gender equality. Pair this with an increase in regulatory drivers post-2008 crisis, and a deepening understanding of the impacts of climate change and associated risk to performance, and we begin to see more clearly the need for investment models that will better address investors’ concerns.”

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