Sony Kapoor
Re-Define Book, The Financial Crisis - Causes and Cures
Download the Book Conservative bankers may sound like an oxymoron now, but there was indeed a time and age when bankers were known for their prudence. Within a matter of decades, bankers went from being considered ‘pillars of society’ to being widely reviled.
‘Credit’ comes from the word for trust in Latin (accreditivus) so it is scarcely a matter of surprise that this breakdown of trust overlaps with the biggest credit crunch in a generation. Clearly, governments need to continue to make efforts to restore credit flows in the economy in the short term. However, restoring trust in financial services to the extent that credit can again flow without the help of government support will be much harder.
This trust can only be earned through a combination of structural changes to banking, eagle-eyed supervision, tougher regulations, and limiting incentives to take on excessive risks with perhaps a little bit of banker contrition.
Re-Define Managing Director Sony Kapoor is interviewed by Euractiv.com
Ex-Lehman banker says EU should crack down on big banks
Instead of addressing fundamental issues like the role of finance, politicians seem stuck in assuaging public anger, argues Sony Kapoor, manager of the international think-tank Re-Define, in an interview with EurActiv.
