Wednesday, December 2, 2015

Why Banks Still "Own the Place" with Professor Anat Admati (Stanford GSB)

Despite an enormously harmful financial crisis and despite rhetoric from politicians and regulators about the need to control Wall Street, the banking industry is still dangerous and distorted. What is wrong with banking and why is the industry so successful in virtually maintaining a bad status quo? This talk will describe the forces that explain why and how the banking industry maintains its economic and political power in the US and elsewhere. Professor Admati will discuss the basic economics of banking, trends in recent decades, and the unique governance issues that pervade the institutions within and around banking. Among the reasons for the success of the industry is the pervasive myth that banks are “special,” and the spin and narratives that maintain this myth and which have been used to justify the excessive privileges banks enjoy. Professor Admati will assess the state of financial regulations, calls for “breaking up the banks,” risk tax, and other approaches.

5:00 p.m. reception
5:30 p.m. lecture

Harper Center Room C25
5807 S Woodlawn Ave
Chicago, IL 60637

Free and open to the public


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