Tag Archives: transparency

How Did European Banks Trap Themselves in a Replay of the 2007 Crisis?

At a conference in New York at the end of 2008, Obama's economic advisor, Larry Summers made a prophetic remark at an event organized by the Economist. He told an audience of Wall Street executives that we should never assume that bankers ever learn from their own mistakes. "We, as regulators, should never assume that the banks would amend themselves. Since 1960, banks have been in crisis every three years in one part of the world or another."
Posted on September 12, 2011 By Georges Ugeux
Categories  European Politics Finance | Also tagged , , , , , , , , , , , , , , | Leave a comment

Reforming Sovereign Ratings: An Urgent and Complex Undertaking

Damned if you do, damned if you don't. Rating agencies are in an inextricable situation when it comes to sovereign ratings. On the heels of their near-collapse of structured products, they must confront the issue of the credibility of sovereign ratings in a holistic way. The question of the legitimacy of sovereign ratings cannot be answered by a yes or a no. There is something structurally questionable in the simple fact that rating agencies -- being private companies and sometimes part of listed groups -- appoint themselves as the ultimate judges of policies of sovereign governments.
Posted on July 19, 2011 By Georges Ugeux
Categories  Finance | Also tagged , , , | Leave a comment

Notes from the Other Side of the One-Way Mirror: The Evolving Definition of Transparency

I'm just getting out of focus groups with opinion leaders. I've probably moderated close to 500 focus groups over the past 15 years - mostly around expectations for corporate conduct and responsibility - and there is absolutely no doubt in my mind as to what the most striking change has been in the public's view [...]
Posted on May 7, 2010 By Bryan Dumont
Categories  Corporate Responsibility Reputation | Also tagged , | Leave a comment