CREAM; Cash Ruins Everything Around Me.

It’s great to see Nick Leeson, a banker that was almost singlehandedly responsible for the fall of Barings Investment Bank while he was living in Singapore in the mid-1990s, talk about “More control, […] and regulation”. Anyway whether you agree with big banking or not he explains that they need more quality regulators to sort out what the financial traders are cooking up in terms of financial instruments. These financial instruments work within the bounds (or grey areas) of the laws and regulations whilst earning the traders large profits. I guess if the financial sector would want to regain the confidence of the general public; financial managers should be held publicly accountable for the losses they have caused the general public and through transparency the public should be informed about what kind of constructions should be avoided in the future.