The Bank Culture Debate - Ethics, Values, and Financialization in Anglo-America (Hardcover)

The period since the Global Financial Crisis and numerous scandals have exposed some areas of serious illegal and unethical conduct within western banking systems. Despite extensive reforms it is increasingly apparent however that there is a persistent problem with the 'culture' of banking in Anglo-America. US and UK state managers made substantial efforts to reform the culture of their banking sectors. However, this book argues that they focused on an extremely narrow definition of bank culture. They did so for two reasons: firstly, because the structural pressures of financialization - which are a far more important driver of the problematic features of bank culture in Anglo-America - are harder to remedy; but secondly, state managers also used their bank culture response to tackle a legitimacy crisis facing their institutions of government. In so doing they abdicated responsibility for the real problems - of inequality and instability - associated with their respective financial systems Drawing on interviews with more than 150 individuals working in financial services as well as regulators, politicians, and lawyers, The Bank Culture Debate explains the strategies employed by state managers before then examining what has and has not changed in the culture of banking in the US and UK.

General

Imprint:	Oxford UniversityPress
Country of origin:	United Kingdom
Release date:	September 2019
Authors:	Huw Macartney (Associate Professor in Political Economy)
Dimensions:	241 x 162 x 24mm (L x W x T)
Format:	Hardcover
Pages:	302
ISBN-13:	978-0-19-884376-4
Categories:	Books > Social sciences > Politics & government > Political science & theory Books > Business & Economics > Economics > Political economy Books > Business & Economics > Finance & accounting > Finance > Banking Books > Money & Finance > Banking
LSN:	0-19-884376-3
Barcode:	9780198843764

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