Thursday, February 12, 2009


Britain is in a real crisis. At the root of it is a lack of integrity. So many people in public and private office have been deeply mired in the present economic scandal that the mind boggles. I was fortunate to have been researching this area 17 years ago and published a series of papers on bank regulation, critiquing it and raising serious concerns. But I was ignored, partly I am sure because of my ethnicity. How can someone speaking with an accent know the science? And bankers were right because they were making money - and I was not. I chose a poor career out of a deep concern for ethical reform. I inherited a 3000 year old culture of humility and integrity. So little of this is valued today, especially by those in positions of power. But this is the price we are all paying now, for the lack of integrity of those in financial and political power.

Serious reform is needed, and it cannot be undertaken by the elites. It is their time to leave now, and give up the mantle to those with real integrity, not manufactured power.

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