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Events

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Event
May 7, 2013

‘The Bankers’ New Clothes: What’s Wrong with Banking and What to Do about It’

by
Hanna Nomm

SPEAKER: Anat Admati, George G. C. Parker Professor of Finance and Economics at Stanford’s Graduate School of Business

TIME : 1 – 2pm, Tuesday 7th May 2013

VENUE: Committee Room 9, House of Commons, London, SW1A 0AA 

To attend please RSVP to: hjiassistant1@henryjacksoninitiative.org

Chairman of the US Financial Crisis Inquiry Commission, Phil Angelides, has described how, “More than four years after the financial meltdown devastated the economy, our banking system remains resistant to reform and riddled with risk.” More critical voices have pointed to the continuing self-interest of banking executives and the cognitive capture of politicians who remain enthralled by the financial economy and thus unable to advance meaningful reforms.

Is it possible to have a safer and healthier banking system without sacrificing lending or economic growth? Many claim it is not. However, in her new book The Bankers’ New Clothes: What’s Wrong with Banking and What to Do about It, Anat Admati examines the narratives used by bankers, politicians and regulators to rationalize the lack of banking reform, and reveals the distortion of the economy and the unnecessary public risk caused when weak regulation and ineffective enforcement allow excessive risk to build up within the financial system.

By kind invitation of Andy Love MP, The Henry Jackson Initiative is pleased to invite you to a meeting with Anat Admati, George G. C. Parker Professor of Finance and Economics at the Graduate School of Business, Stanford University. Professor Admati will cut through the jargon of banking and lead a broad public discussion on the ambitious reforms needed to ensure the long term health of our financial system.

Biography

Anat Admati is the George G.C. Parker Professor of Finance and Economics at the Graduate School of Business, Stanford University. She has written extensively on information dissemination in financial markets, trading mechanisms, portfolio management, financial contracting, and, most recently, on corporate governance and banking.  Since 2010, she has been active in the policy debate on financial regulation, particularly capital regulation, writing research and policy papers and commentary. She is a coauthor of the book, The Bankers’ New Clothes: What’s Wrong with Banking and What to Do about It.

Professor Admati received her BS from the Hebrew University in Jerusalem and her MA, MPhil and PhD from Yale University. She is the recipient of a Sloan Research Fellowship, a Batterymarch Fellowship, and multiple research grants. She is a fellow of the Econometric Society, and has served as a board member of the American Finance Association and on multiple editorial boards. She also serves on the FDIC Systemic Resolution Advisory Committee.