Wednesday, January 23, 2008
The word banker never used to be an insult. It once stood for a pillar of the community, a captain of capitalism. But bankers’ reputations have soured as their bonuses have bloated.
Roger Steare, Professor of Organisational Ethics at Cass Business School, has completed some intriguing research into the banking industry’s morals. He put more than 700 executives working in financial services firms through integrity tests. These financiers were as a group less honest, less loyal and had less self-discipline than the average British worker. Professor Steare believes that the lack of self-discipline in the profession indicates a culture of greed and short-termism.
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