Complexity is the intended cloak of deceit in finance. Breaking things down into simple terms is illuminating. And breaking the conglomerates up again into investment companies that are separate and apart from deposit taking-lenders backed by taxpayers, must happen now.
Anat R. Admati is a professor of finance and economics at the Stanford Graduate School of Business. Her recent research has focused on corporate governance and banking. She is the co-author of The Bankers’ New Clothes: What’s Wrong with Banking and What to Do about It. The book and many commentaries expose the continued failure by policymakers to protect the public and reduce the harm and distortions from a reckless financial system. Admati believes that explaining the issues to a broad audience is essential for bringing about policy change. Here is a direct video link.
In this extract from her episode of Meet the Renegades, Professor Anat Admati talks us through some of the words that are captured and distorted in order to suit the interests of the banking sector. Here is a direct video link.
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