Comments on: Banks should learn to say “Just Go” http://blogs.reuters.com/hugo-dixon/2012/09/24/hugo-dixon-banks-should-learn-to-say-just-go/ Mon, 18 Apr 2016 14:55:08 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: jfw http://blogs.reuters.com/hugo-dixon/2012/09/24/hugo-dixon-banks-should-learn-to-say-just-go/comment-page-1/#comment-482 Mon, 01 Oct 2012 15:37:13 +0000 http://blogs.reuters.com/hugo-dixon/?p=408#comment-482 Reward is a driver in entrepreneurial success. Do we deny Carnegie, Pullman, Bill Gates, Donald Trump, Richard Branson their finacial reward? As BidnisMan identifies where the employee has no personal relationship with the investor the sense of responsibility diminishes whilst the motivation to generate commission without enhancing real wealth generation increases. Can smaller banks support the multi-national corporations? Those same corporations, that by switching production (or profit centres) between countries may have more immediate financial influence than the respective governments. Should the accountancy profession accept some of the accountability? or is national legislation that needs immediate review. One thing is certain. Ask the one in two Spanish or Greek schoolleaver who have no job if they benefited from the global behaviour of the financial sector. Can we see global social stability increasing? Is it possible to increase mutal respect both in our contributions as ecconomic units and to our social culture?

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By: HenriettaM http://blogs.reuters.com/hugo-dixon/2012/09/24/hugo-dixon-banks-should-learn-to-say-just-go/comment-page-1/#comment-480 Tue, 25 Sep 2012 13:40:28 +0000 http://blogs.reuters.com/hugo-dixon/?p=408#comment-480 YES!

@BidnisMan
Self regulation is an oxymoron. There is no such thing. So far as “owned and run by citizens”, what makes you think ‘the citizens’ are any less venal or open to self serving corruption? A cursory glance at corporate management compensation boards tells you all you need to know.

We had regulation in the USA, it was not perfect but mostly accomplished it’s purpose. Bought and paid for politicians repealed it. Lesson learned from this should be to make the regulatory agency apolitical with a mission to examine all proposed new financial instruments that will be public offerings. Separate community banking from investment banking and withhold FDIC protections from the gambling sector while requiring plain language disclosure to the punters.

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By: BidnisMan http://blogs.reuters.com/hugo-dixon/2012/09/24/hugo-dixon-banks-should-learn-to-say-just-go/comment-page-1/#comment-479 Tue, 25 Sep 2012 11:47:45 +0000 http://blogs.reuters.com/hugo-dixon/?p=408#comment-479 So, lets follow this logic through. Financial services industries reduce the salaries of their employees across the board, especially the bonus aspect. Lets assume that the employees all decide to be sensible and stay and there is no disruption. What next – the unauthorised risk taking and bonus seeking behavior (greed, if you will) will magically stop because they are paid less? I sense your frustration and believe it is mostly valid but you are confusing responsible custodianship with bankers salaries and the two are only loosely linked at best. My view is that money loses it meaning when the people whose money it is are unknown to you as the banker. I think the solution is to break up the banks into smaller banks – one per city (or even smaller regions if appropriate), and they must be owned and run by citizens of that city. Let them be small and mostly self regulated, then irresponsable behavior will be curbed as they are part of the community rather than just treating money as a game with winners and losers.

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By: EthicsIntl http://blogs.reuters.com/hugo-dixon/2012/09/24/hugo-dixon-banks-should-learn-to-say-just-go/comment-page-1/#comment-478 Tue, 25 Sep 2012 08:37:55 +0000 http://blogs.reuters.com/hugo-dixon/?p=408#comment-478 The banking & all financial institutions need a complete make-over. Their blatant unethical, corrupt & criminal ways of doing business is destructive to our economy & society. Enough is enough.

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By: JoeOvercoat http://blogs.reuters.com/hugo-dixon/2012/09/24/hugo-dixon-banks-should-learn-to-say-just-go/comment-page-1/#comment-477 Mon, 24 Sep 2012 18:34:18 +0000 http://blogs.reuters.com/hugo-dixon/?p=408#comment-477 It’s funny that they call it compensation, instead of takings. But of course, one cannot expect a bandit to be honest about it.

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