Sky Blog
Thank you Bill [Dudley] for that kind introduction and for inviting me to speak today.[1] I’m planning to speak for fifteen or so minutes and to open the floor to questions.
I want to extend my congratulations to Bill
The capstone of regulatory reform in the wake of the financial crisis can be characterized as an effort to change the financial industry by getting bankers to behave more ethically. Regulators have emphasized the importance of “culture” set by a …
Culture often helps explain the behavior of individuals and firms. The general finding in the law and economics literature is that certain societal norms, such as attitudes toward corruption, persist even when individuals relocate to a very different legal and …
“Culture, more than rule books, determines how an organization behaves.” – Warren Buffet[1]
In recent years, there have been ongoing occurrences of serious professional misbehavior, ethical lapses and compliance failures at financial institutions. It was the crisis that exposed …
Culture is a potent force in shaping individual and group behavior, yet it has received scant attention in the context of financial risk management and the recent financial crisis. In my paper, The Gordon Gekko Effect: The Role of Culture …
The US Federal Reserve (Fed) again expressed concerns about the culture at financial institutions this month.[1] This has been a recurring theme since the financial crisis, as regulators in the US and abroad have hit industry players with steep …