Friday, November 6, 2009

Reforming risky banks the old-fashioned way

From FT Alphaville:

In the early days of banking, liability was not just unlimited; it was often as much personal as financial. In 1360, a Barcelona banker was executed in front of his failed bank, presumably as a way of discouraging generations of future bankers from excessive risk-taking

Andrew Haldane, executive director of the Bank of England’s Financial Stability unit, seems to have latched onto an effective, if not exactly modern, potential solution to the problem of excessive risk-taking at banks. And while he doesn’t think executing bankers was “conspicuously” successful in the past, he does have some less antiquated suggestions for reforming the banking sector in a joint presentation with the BoE’s Piergiorgio Alessandri. They include...MORE

Zeitgeist: London Protesters Threaten Bankers, Evoke Executions
Go Long Pitchforks: How To Profit From The Coming Populist Backlash.
"...Here's the rondo from Mozart's Horn Concerto No. 2.
Music to hunt bankers by. "