In light of the current news, where Barclays is part of an international investigation into the setting of interbank rates between 2005 and 2009, and an IT meltdown that has left hundreds of thousands of NatWest and RBS customers without access to their accounts, you have to ask the question, ‘are we really making any progress away from the reasons behind the original financial crisis that are still playing havoc with today’s economy?’
As part of the learning that we need to take away from the crisis, and so taking a look at specific case studies, the Jersey International Business School has invited Paul Moore, The HBOS Whistleblower to attend a film screening of the award winning documentary ‘Inside Job’ at the Jersey Arts Centre on Wednesday 4 July at 7.30pm, where he will discuss some of the reasons behind the financial meltdown of 2008.
Chris Usher, Director of Client Relations comments,
“The date of the 4th July doesn’t go without significance for this event since it is the official celebration of the American independence of 1776, and ironically the world of 2012 is still struggling to survive through a global recession brought about by the corruptive influence of the United States’ financial services industry. And yet, here we are today, looking at how inappropriate behaviour and apparent manipulation have again slipped through a bank’s control systems.”
Paul Moore was Head of Global Risk at HBOS but dismissed in 2004 for warning the board of the dangers of its excessive risk taking and its aggressive sales culture. Although Paul has become infamous as the HBOS Whistleblower – the most controversial figure to emerge from the ‘credit crunch’ era – much has been written about the case and we, as an audience, are still interested in hearing his views on ways to improve culture and ethics in order to prevent similar issues arising.