Saturday, 2 March 2013

When Bankers Were Good

This BBC documentary takes a look at a time when banks and bankers were not under the spell of the "greed is good" mantra. A time where old-timey values such as shame, prudence, and thrift prevented bankers from acting irresponsibly. But the main thing the documentary looks at is the endemic practice of philanthropy, in fact large philanthropic efforts by wealthy bankers lead a trend that resulted in philanthropy becoming the second largest household expense in Britain (of course, before it became institutionalised in the form of the welfare state). The documentary provides an interesting look at the history of banks and bankers in the UK, and probes into the question of whether modern day bankers can learn from the banking and ethical/moral practices of the past to bring in a new age of banking. Can bankers be good again?

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