Posts Tagged: How we Decide


18
Apr 12

Bank governance: rejecting the check list

Morality and psychopaths

We all have a guilty secret. Confession is good for the soul, so in this post-Easter period, let me come clean about mine. It happened in the spring of 2008.

Shamsad Akhtar, the outstanding governor of the central bank of Pakistan at the time, was under attack from the government and her reappointment for another three year term looked uncertain. In an attempt to bolster her position, while I was on a visit to Karachi, she insisted I interview her on Pakistan state television. For 40 minutes we were filmed discussing monetary policy, provisions for bad loans, interest rate increases and the like. This was broadcast that very evening in the fifth largest emerging market by population. Villagers in the lawless regions on the frontiers with Afghanistan, the military in their secure compounds and government ministers in their mansions all shared one sentiment only: paralysing tedium.

Share/Save