The Politics of Financial Risk, Audit and Regulation

Contemporary economics and finance theory dominates the study and practice of banking. However, it is very weak in areas like culture, ethics and politics, factors which have a major influence. It assumes that a focus on profit and value maximisation will somehow lead to the best outcomes for society, and completely ignores the political power and influence of large banks, and the degree of responsibility required for the trust endowed upon them by society. This book investigates the above in depth and comes up with some surprising evidence and analysis, which exposes the need for curbing the political power of these large financial institutions.