Victoria Chick: ‘The financial system has gone completely off the rails’

Posted 17/12/2013 - 08:21 by anrigaut

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2013-12-10 (All day)

Where did the finance and banking sector go wrong … and what can we do to fix it?

Transforming Finance, a 23-minute documentary film produced by the Finance Innovation Lab, features interviews with a number of the most prominent advocates of change in the world of finance.
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The film makes some very good points but, in my view, falls short. The following three things must also happen if finance is going to be reformed:

(1) More effective regulation
(2) The prosecution of financial criminals
(3) A radical overhaul of auditing

A host of other things also need to change, including politicians ceasing seeing their role as being to protect corrupt banks and bankers, and global structural reforms.