|
|
|
 |
THE GLOBAL FINANCIAL CRISIS – WHAT ARE THE LESSONS,
PARTICULARLY THE ETHICAL ONES?
A Discussion Paper by Bill Frilay, 12 December 2008
Summary
The paper draws on information and the opinions of many on the Global Financial Crisis. It looks at
• What happened and why?
• What are the lessons to be drawn from this?
From the viewpoint that business and business investment must serve society as a whole, it notes there are many factors behind the crisis including human error, a massive underestimation of investment risk, and greed and hubris across all sectors of society.
Drawing from this, it then seeks to develop a broad position on what actions government and the finance sector might take for the future. This proposed position recognises the importance of allowing markets to work and includes a range of regulatory and non-regulatory proposals to increase fairness, market knowledge and risk, and stability
. Click
|
|