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Rex Ghosh - a Harvard PhD economist who has worked in the financial markets for more than 20 years, currently with the International Monetary Fund - believes that the very culture of the financial sector needs to shift back to basics as the economy limps out of recession.
“The global financial crisis, marked by the bankruptcy of Lehman Brothers in September 2008, has taken an enormous economic, financial, and social toll,” said Ghosh, who also authored Nineteenth Street, N.W.(www.nineteenthstreetnw.com), a novel about a fictional act of financial terrorism that causes a global financial crash. “Both in the United States and abroad, regulations, laws, and practices are being changed to help ensure that such crises do not recur. But these regulations - running to the thousands of pages - are enormously complex. It may be years before they are all adopted and absorbed into the daily lives of those in the financial sector. The real prevention rests in the notion that leaders need to work toward changing the very culture of the sector to rely on more fundamental and basic practices based in prudence and responsibility.”
More info http://www.nineteenthstreetnw.com/
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