The problem with finance. (2014)

“…it takes a long time to change a faulty culture, especially one that makes economic sense for the people inside it.”

Edward Hadas, Economics Editor, Reuters Breakingviews.com
6 November 2014

“Much has changed in the money business since .. I was unceremoniously kicked out of my last job in finance in 2004. But reading about the behaviour that has led to a litany of huge fines I fear that too much remained the same….

“…I probably went to several dozen sessions dedicated to ethics… there was always something surreal about these exercises … earnest junior HR people or weary senior executives going through the motions would explain… how we should always remember we had a responsibility to society

“The crisis…and the tidal wave of additional regulation have undoubtedly helped reduce abuses, and I have no doubt that there are many more ethical behaviour training sessions. But it takes a long time to change a faulty culture, especially one that makes economic sense for the people inside it.”

Access the full article here:  The problem with finance