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01 July 2012


banking jobs

This is very helpful article for everyone.I like it very much, will u please provide more.

sally mclaren

how about paying regulators more like HK and Singapore.

think you will like this article in the Economist.


The golden rules of banking
They make the rules, and get the gold

THE crisis has taught people a lot about the banking industry and the thought processes of its leaders. These lessons can be distilled into four golden rules.

1. The laws of supply and demand do not apply.

2. Success is down to my genius; failure is caused by someone else.

3. What is lucky for an individual trader may be unlucky for the bank as a whole.This is a variant of the Peter principle, which holds that managers get promoted to their level of incompetence. The trader-cum-executive will make the biggest mistake when he is in charge of the whole bank. By this stage, he will be personally rich and will remain so even if the entire bank fails, not least because:

4. Resigning can be a retirement plan.

David Eldon

I see little harm in banks utilizing the knowledge of former senior regulators if it is designed to provide sound advice and background knowledge to their organisations. But they need to choose their regulators carefully - and not just take them because they have a "name" on which they hope they can trade. The transition from regulator to banker has been even less successful, I fear, as has happened in the past - but I believe lessons have been well learned.


On the subject of bankers and discipline, what do you think of senior regulators who take up banking jobs (sinecures?).

Greenspan from the Fed to Deutsche Bank and Paulson & Co.

Greenspan's deputy Mullins from the Fed to Long Term Capital.

Crockett from BIS to JP Morgan Chase.

Malcolm Knight from BIS to DeutschBank.

Way to disseminate best practices or just a little too cosy for comfort.

Whatever happened to the Steady Eddies?

Richard barker

Really interesting stuff David and fully agree with your sentiments.

We actually have a mutual acquaintance believe it or not - a gentlemen by the name of Simon Donohoe, who you took out for lunch circa 2001 in hong kong. Simon is my hero/role model/ close family friend.

FYI - I am hsbc too, currently on secondment at Saudi British bank.

Have added your blog to my bookmarks!



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