The Citizen Bank
LONDON – Soon after the financial crisis began in 2008, I was at a meeting in the United States where a senior White House economic adviser put a question to me: “Do you think banks can be good citizens?”
As I started to answer “Yes,” he interjected: “If your answer is ‘yes,’ think about the fact that no one will believe you.”
His follow-up gave me pause. I’ve thought a lot about it over the past three years, which have been so difficult for the world economy.
We hope you're enjoying Project Syndicate.
To continue reading, subscribe now.
Get unlimited access to PS premium content, including in-depth commentaries, book reviews, exclusive interviews, On Point, the Big Picture, the PS Archive, and our annual year-ahead magazine.
Already have an account or want to create one? Log in