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Business Daily

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The daily drama of money and work from the BBC.

Business Daily: Risky Business

24/02/2010

Risky Business

BBC World Service - Business Daily, Risky Business

Is risk-taking always going to be at the heart of what banks do?

Is risk-taking always going to be at the heart of what banks do? Lesley Curwen talks to UK banker Clark McGinn and former investment banker Doug Dachille about the  risks banks should take.

Despite all the controversy about excessive risk-taking, bankers would argue that taking risks is a crucial element of business. New York writer, Daniel Greenberg reads a fairy story about how life is full of risks, the salutory tale of the Mouse King and the Alligator.  

So is risk always going to be a big part of  banks' functions? This week, more heated debate from the US has demonstrated that eighteen months after the collapse of Lehman Brothers, the White House and the US Congress are still bitterly split over how to regulate the worst excesses of the banks.

Lesley Curwen talks to a senior banker in the UK, Clark McGinn who recently wrote a book called 'Out of Pocket, how Collective Amnesia lost the World its Wealth'. 

And we hear the views of Doug Dachille, 
from First Principles Capital Management, who used to be the head of proprietary trading at the investment bank JP Morgan.  

Plus Jeremy Wagstaff warns business travellers that walking into a hotel business centre may mean entering a technology time-warp.

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