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.