These days top bankers are facing tough quuestions from law makers. Rightfully so you might claim.
In a current blog Dan Roberts asks valid questions
one could (should) have asked years ago.
In reflection to the CI profession these questions seem to have potential to trigger challenges to any business leader, way beyond finance. Customized to any business they could help any CI leader to engineer spot-on solutions in response to the insight vacuum of these days.
Why did your risk models not show up the dangers?
How often did you think about your bonus when making decisions?
After the collapse of Northern Rock, is there more you could have done to reduce risk?
How big a part did tax avoidance play in encouraging an excessive reliance on debt in corporate capital structures?
Why should profits be private, but losses socialised?
If the industry's full liabilities and assets were valued on a mark-to-market basis, would it be solvent?
Has short-selling played a significant role in destabilising banks?
Did you understand all parts of your business?
Did you feel your fellow board directors, shareholders, and regulators were fully aware of the risks you were taking?
At what point did you realise the system was in trouble, and at what point did you admit it to anyone else?
How can we stop this happening again?
Will you say sorry?