Causes of crisis in finance
The reason I bring this topic here and now is that the Global Financial Crisis problems have not been tackled. Accountability, transparency, and greed have not been dealt with in the finance system. Financial systems would collapse if the government would have not increased its support. Despite the Royal Commission in the banking and financial sectors, some people still act irresponsibly and recklessly with people’s money. This needs to stop and if the abuse is too much and affects a lot of people the responsible people should be sent to jail for white-collar crimes. Special places, of jail for white-collar people would be provided by the government. I know that sending people to jail is a bit radical but this is the requirement to make people understand that abuse of power in finance is not accepted since it ruins a lot of people’s life. People would be left with no money and taking care of themselves is going to be hard. Iceland sends people to jail for abusing their position in finance. In particular greed without rewards. Greed is always more and more with no limit. It gets in people’s life, unfortunately. Not everybody is greedy and they should be role models examples, not greedy people. To get rid of greed you need to start from the top of the company. Start with the CEO of the company who will send a message that making a bit of money is OK. Being greedy is not. And slowly the message will enter society from lots of companies and we should eventually be looking at greed differently. Transparency is another issue in finance. It is also found in a lot of organizations not only in finance. But it affects a lot of people about financing. Transparency needs to be tackled. How do we make institutions transparent? The same start with the head of the company and it will eventually get into society. You would like people to do their job and transparency will help that. If everybody would do their job, what sort of world we would be living in.? If after a Royal Commission into the financial system people are selling insurance bogus which has no value, what can you think of a financial system apart from that there need to be drastic measures to address the issue. And that is jail. You go to jail for 2 years if you steal a car and, nothing happens when you still have a lot of money in the insurance business. We have to do something about it. We people will fight for a transparent and greedy finance system. Also, an accountable system is a way to go. Jail for abuse of finance. Return to the first page. thepeoplewhocaremovement.org