Sunday 23 December 2012

Sunday, December 23, 2012 Posted by Jake No comments Labels: , ,
Posted by Jake on Sunday, December 23, 2012 with No comments | Labels: , ,

By Honestly Banking, the undercover banker

Looking back over 2012, we've seen the world of banking plumb new depths. Libor rigging, Interest Rate Swap scandals, money laundering to name just a few. 

For 2013 we would like bankers to resolve to simply take personal responsibility to do the right thing. This means having the moral courage to speak out and blow the whistle when something is wrong. To put customers first and stop the greed. We should have the moral courage to welcome legislators giving regulators teeth that bite. 

It is staggering that 2012 has brought many clear cases of corporate misdemeanour yet there have been hardly any individuals paying the price. A substantial fine is just a cost of doing business and usually only represents a fraction of the profits made. Those that have permitted or profited from the crime just turn up for work again the next day!

Those who believe that any behaviour is acceptable in pursuit of profit must learn that they will and must be called to account for their actions. If they have done wrong, the price must be paid - personally.

In 2013 have moral courage to stand up for what is right.


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