People have learnt to drop litter in a bin rather than where they happen to be standing. In the same way, bankers can be taught to act decently and not plunge the world’s financial system into crisis again.
That was the message from Christine Lagarde, head of the International Monetary Fund, in a speech last week to a London conference on inclusive capitalism.
Ms Lagarde was clear that bankers still needed lessons in acting decently. “The behaviour of the financial sector has not changed fundamentally,” she said, adding: “The industry still prizes short-term profit over long-term prudence, today’s bonus over tomorrow’s relationship.”
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