4 Responses to “Video Blog: Organisational Change Lessons learnt from the Banking Crisis”

1. George Montgomery says:

   19 December , 2009 at 19:01

   Richard

   Liked the video – and yes I agree the status quo will continue in banking unless change is enforced – because the existing players make to much dosh to want to do anything else.
   It’s a bit like smoking or drinking – it’s addictive for those involved.

   I don’t know the answer – but I feel that many bank customers are now more aware of the gambling-based culture of the banks which led to the failures – that could have cost them their life savings – and won’t want to see that continue. I was one of many thousands in that position – many of these were elderly people, who had no clue as to the risks their savings were being put.

   If certain banks do wish to continue operating in that way, they need to operate as standalone investment houses – and they can’t and should not be using retail savers cash.

   I would say at the moment no lessons have yet been learnt – but if nothing happens my cash is going under the bed – because the Govt won’t be able to afford another bailout !

   Regards

   George Montgomery

2. richardderwentcooke says:

   19 December , 2009 at 19:04

   Thanks George… do you really think there will be a sufficiently large consumer lead backlash tp bring about a change?

3. George Montgomery says:

   19 December , 2009 at 19:05

   I don’t honestly know. But customers are bound to be concerned about the safety of their savings – and unless guarantees are forthcoming, the pressure for change will be there – from both individuals and consumers groups.

   At the moment no one really knows which banks are safe and which are not. They are all in the sick bay under treatment IMHO.

   BTW – Did you know UK Councils are still trying to get back several hundred millions of Council Taxpayers money they invested in failed Icelandic banks.

   Regards

   George Montgomery

4. richardderwentcooke says:

   19 December , 2009 at 19:05

   Yes it is very difficult when the whole system is ‘sick’.

   The trouble is they created a system that rewarded greed.. so guess what it produced… even more greed…!

   In the past, these institutions were there to keep-safe the assets of their customers, now they speculate with them and pocket the profits… worse still, our pension schemes invest in them, so we are doubly at risk!