Friday, November 16, 2007

Amnesiac Bankers

"In a world full of bosses with short memories, too many bankers stand out as amnesiacs. ... Everyone in banking points to risk management as a top priority, [John Reed former Citigroup head] says, but that is often just lip service. Risk analysis can easily become a series of routine chores that offer little protection from the unexpected. ... Mr. Reed has some sharp words too, for the ways that banks pay risk managers. 'If they get stock options, or get rewarded for earnings per share, they'll approve everything,' he cautions. Mr. Reed's most provocative warning: Be careful who you listen to", WSJ, 14 November.

Finally someone associated with banking who tells it like it is.

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