self-delusion, not greed, caused HBOS to fail | Joris Luyendijk

I’m not a fan of re-blogging, but sometimes I come across a post that strikes me as so noteworthy that I see no point in trying to summarize, I just hope you click and judge for your self. I’m a fan of Joris Luijendijk, his banking blog, and all his other work. I hope you take time to read the latest post on that banking blog, which argues that as long as bankers live in a world free of consequence, our finance system is doomed to fail. All of his financial sector interviews and reflections are worth reading but I felt that this particular one expresses his personal bewilderment with the subject quite well. He wrote a very similar post for his Dutch column in the NRC that starts off with: The best tip that I ever got as a writer was “keep being amazed” but for the first time in my career I don’t need that advice. The financial sector produces that amazement automatically – although ‘dismay’ might be a better descriptor. Or ‘desperation’. I’ve written about incentives myself and couldn’t agree more with his thinking.

When you’ve read Joris’ thoughts, come back here and enjoy the below.  It helps.

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