TITLE

Culture 'to blame' for banking crisis

AUTHOR(S)
Phillips, Lucy
PUB. DATE
March 2009
SOURCE
People Management;3/26/2009, Vol. 15 Issue 7, p7
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article focuses on a report on global banking regulation from by Adair Turner, chairman of the British Financial Services Authority (FSA), which indicates that excessive risk-taking was driven more by behavioural and cultural factors than high levels of wages, which have become the subject of political pressure. According to the report, regulatory changes relating to capital, accounting and liquidity are expected to have more profound effects than changes to remuneration policies.
ACCESSION #
40400610

 

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