Better bankers, better banks : promoting good business through contractual commitment / Claire A. Hill and Richard W. Painter.

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Published: Chicago : The University of Chicago Press, 2015.
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Format: Book

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035 |a (OCoLC)927961761 
010 |a  2015002748 
020 |a 9780226293059  |q (cloth ;  |q alkaline paper) 
020 |a 022629305X  |q (cloth ;  |q alkaline paper) 
020 |a 9780470499344 
020 |a 0470499346 
040 |a ICU/DLC  |b eng  |e rda  |c CGU  |d DLC  |d YDXCP  |d BTCTA  |d BDX  |d OCLCF  |d CDX  |d BKL  |d OCLCQ  |d GUB 
042 |a pcc 
050 0 0 |a HG1573  |b .H55 2015 
082 0 0 |a 332.1  |2 23 
097 |3 Bib#:  |a 2379689 
100 1 |a Hill, Claire A.,  |e author. 
245 1 0 |a Better bankers, better banks :  |b promoting good business through contractual commitment /  |c Claire A. Hill and Richard W. Painter. 
264 1 |a Chicago :  |b The University of Chicago Press,  |c 2015. 
300 |a 279 pages ;  |c 24 cm 
336 |a text  |b txt  |2 rdacontent 
337 |a unmediated  |b n  |2 rdamedia 
338 |a volume  |b nc  |2 rdacarrier 
504 |a Includes bibliographical references (pages 195-266) and index. 
505 0 |a Irresponsible banking -- How banking became what it is today -- Explaining banker behavior -- Law and its limits -- Covenant banking -- Responsible banking. 
520 |a "Taking financial risks is an essential part of what banks do, but there's no clear sense of what constitutes responsible risk. Since the financial crisis, Congress has passed copious amounts of legislation aimed at curbing banks; risky behavior. Lawsuits against large banks have cost them billions. Yet bad behavior continues to plague the industry. Why isn't there more change? [The authors] show how the current culture of bad behavior came to be. In the early 1980s, banks went from partnerships whose partners had personal liability to corporations whose managers had no such liability and could take risks with other people's money. A major reason bankers remain resistant to change, Hill and Painter argue, is that while banks have been faced with large fines, penalties, and legal fees, the banks (which really means the banks' shareholders) have paid them, not the bankers themselves. The problem also extends to the culture of how success is defined within the banking industry, where clients value bankers who prioritize their own self-interest. Hill and Painter show that a successful transformation of banker behavior must begin with the bankers themselves. Bankers must be personally liable from their own assets for some portion of the bank's losses from excessive risk-taking and illegal behavior. This would instill a culture that discourages such behavior and in turn influence the sorts of behavior society celebrates or condemns." -- from book jacket. 
650 0 |a Banks and banking  |x Corrupt practices. 
650 0 |a Banks and banking  |x Social aspects. 
650 0 |a Banks and banking  |x History  |y 21st century. 
650 0 |a Banks and banking  |x History  |y 20th century. 
700 1 |a Painter, Richard W.,  |d 1961-  |e author. 
991 |a 2016-10-17 
992 |a Created by fiwi, 17/10/2016. Updated by glwo, 29/11/2016. 
999 f f |i 0e4b1e64-2eee-5d1d-93b0-7df97bc61f4c  |s 75394792-6866-51f0-a03c-e247c603b5cc  |t 0 
952 f f |p For loan  |a University Of Canterbury  |b UC Libraries  |c Central Library  |d Central Library, Level 9  |t 0  |e HG 1573 .H55 2015  |h Library of Congress classification  |i Book  |m AU19881916B